IPAA FIGHTING AGAINST WINDFALL PROFITS TAX

Oil & Gas Investor, November, 2005 by Anonymous

The CEOs of ExxonMobil, Shell, BP, Chevron and ConocoPhillips testified before Congress on oil and natural gas profits, gasoline prices and winter heating issues. Policymakers are considering a Windfall Profits Tax and/or voluntary industry contributions to the Low Income Heat Energy Assistance Program (LIHEAP). IPAA is working with congressional and administration kaders, as well as the media, on a daily basis to protect the industry from all federal proposals that would tax or harm domestic producers.

Testifying On Capitol Hill. In addition to personal meetings with key senators and congressman, IPAA has also provided testimony to the House Energy and Commerce Committee. IPAA Offshore Committee Chairman Chuck Davidson, president and CEO of Noble Energy, urged Congress to...