Myths can be stubborn - sometimes more stubborn than the facts themselves. Tax treatment of the oil and natural gas industry is Exhibit A.
API Tax Policy Manager Stephen Comstock set the record straight after an Ogden (Utah) Standard-Examiner editorial failed to recognize that oil and natural gas companies are taxed at a higher effective rate than other companies, paying more than their fair share of taxes.
"You're way off base suggesting the nation's major oil and natural gas companies don't already pay their fair share of taxes. ... They pay millions of dollars a day in income taxes at higher effective rates than most other companies. They also receive none of the grants, guaranteed loans and price supports provided to other industries."