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Taxing energy industry will hurt recovery

Published: Thursday, Oct. 31, 2013 11:46 a.m. CDT

To the editor:

Recent growth in domestic oil and natural gas production is having positive impacts on our economy. The U.S has long relied on foreign countries to supply our energy.

Now America is on the verge of becoming more energy independent. The boom in natural gas production is allowing for manufacturing companies to make a comeback.

Rising energy costs forced many manufacturing companies to head overseas, but with the recent abundance of natural gas, the manufacturing industry is returning to America. We have seen this locally and throughout the state.

The new resurgence in the manufacturing industry is creating thousands of jobs. This is great for local economies, and would not have become reality if not for the downward trend in energy costs created by an abundant supply of natural gas produced here in America.

Leaders in Washington have repeatedly targeted the energy industry for additional taxes. This industry is responsible for lower energy costs, less reliance on imported energy sources, millions of jobs, and is creating additional investment in America. 

Singling this industry out with more taxes and regulations will only hurt our slow economic recovery.

Maurice Phillips

Newton

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