As API's Jack Gerard pointed out in a Roll Call op-ed yesterday, several special interest groups are engaged in a campaign against the oil and natural gas industry.

It appears these groups are hoping to use the Gulf oil spill to inflict as much damage as possible on the industry through the imposition of higher taxes. To advance their cause, some groups often claim that the industry is highly subsidized and doesn't deserve tax breaks or deductions.

A frequent target in this campaign is Section 199 of the Tax Code, which encourages job retention and growth in the United States. Congress enacted this provision in 2004 to provide a deduction to taxpayers engaged in manufacturing, production, growing or extraction activities. The deduction is available to ALL U.S. manufacturers, including oil... more »

True story: A few days ago I went into a women's clothing store to buy a couple of T-shirts. As I was standing at the counter paying my bill, the clerk decided to make small talk. "Do you work in Washington" she asked. "Who do you work for?"

I answered, "I work for the oil industry."Her friendly demeanor faded. She put my purchase in a bag and had nothing more to say.

The clerk is one of many, many Americans who are troubled by the Deepwater Horizon accident. The leaking well in the Gulf and the tar balls on the beaches have had a major impact on America's collective psyche. But the clerk didn't take out her consternation on me. She didn't charge me more than other customers or slap an extra tax on my purchase. That would have been unfair and unlawful.

Some members of Congress, however, ar... more »