President Obama renewed his call on Congress to raise taxes on oil and gas companies today during a press conference at the White House. The President didn’t break any new ground with regard to policy this morning, but his comments do provide another opportunity to make the point: Don’t make energy more expensive!
Manufacturers depend on affordable energy to make products Americans and consumers around the world depend on and use every day. Higher energy prices have a direct impact on every American–chances are some kind of fuel was used either to make or transport virtually everything we touch.
Now is the wrong time to raise energy taxes. It will hurt job creation and further burden manufacturers, which are already strained by rising raw material costs and costly regulations, to give two examples.
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