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Industry Quotes

“First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.”

“There is an urgent need to stop subsidizing the fossil fuel industry, dramatically reduce wasted energy, and significantly shift our power supplies from oil, coal, and natural gas to wind, solar, geothermal, and other renewable energy sources.”

“The controversy over Russian gas deliveries shines a glaring spotlight on the risks involved in this industry. In an energy NATO, EU and NATO member states would guarantee one another assistance in obtaining energy, in any form, but without violence. Of course, we need an additional pipeline system for this purpose.”

“Subsidies for the oil, gas and coal industries are projected to cost taxpayers more than $135 billion in the coming decade. At a time when scientists tell us we need to reduce carbon pollution to prevent catastrophic climate change, it is absurd to provide massive subsidies that pad fossil-fuel companies' already enormous profits.”