NPRA Responds to President Obama's Jobs Speech

WASHINGTON, Sept. 9, 2011 /PRNewswire-USNewswire/ -- National Petrochemical & Refiners Association President Charles T. Drevna issued the following statement today in response to President Obama's speech to Congress on job creation:

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"The most effective actions President Obama can take to create jobs would be to lift the unprecedented and unwarranted regulatory burdens his administration has imposed on American manufacturers and stop trying to raise energy taxes.

"Instead of wasting billions of taxpayer dollars on subsidies that line the pockets of executives of so-called 'clean energy' companies that can't stay in business and can't keep workers employed, President Obama should follow his own advice in his speech and back a tax code that 'should give an advantage to companies that invest and create jobs here in America.'

"Companies that manufacture fuels and petrochemicals and that produce oil and natural gas support more than 9 million American jobs – and can create many more if only President Obama will stop throwing regulatory roadblocks and proposed tax increases in our path. Enabling these proven and reliable energy companies to grow and create jobs in an environmentally safe manner will generate higher tax collections for government at all levels.

"Denouncing nonexistent 'tax loopholes for oil companies' may be a good applause line, but singling out energy companies for counterproductive and discriminatory tax hikes is a sure-fire way to destroy jobs and raise energy costs for the American people."

SOURCE National Petrochemical & Refiners Association