Boustany resolution voices opposition to proposed oil tax

U.S. Rep. Charles Boustany (R-LA) introduced a House resolution on Tuesday that voices congressional opposition to President Barack Obama’s proposal to levy a $10 tax on every barrel of oil.

Boustany introduced the resolution on the same day that President Obama submitted the final budget request of his presidency to Congress, which includes the proposed oil tax.

“The president wants to fund his environmental agenda on the backs of hard-working Louisiana families in the oil and gas sector, and that is dead wrong,” Boustany said. “I won’t stand by and watch the president run over these families with a tax that will be passed on at the pump. I encourage my colleagues to join me in this effort to kill the president’s tax on hard-working families in the oil and gas industry.”

American Petroleum Institute President and CEO Jack Gerard said the proposed oil tax would “harm consumers, destroy jobs and raise energy costs.”

“This unprecedented tax hike – adding, according to public reports, about 30 percent to the cost of a barrel of oil and potentially about 25 cents to the cost of a gallon of gasoline — is just the latest bad idea from this administration when it comes to U.S. oil and gas resources,” Gerard said. “API strongly supports Congressman Boustany’s resolution to oppose this harmful measure.”

The Independent Petroleum Association of America and the Louisiana Oil & Gas Association also voiced support for Boustany’s resolution.