Impact of Energy Taxes

Have you ever stopped to think about how much the price of food is directly impacted by the price of energy? The long process of, for example, taking corn from the field to the grocery store shelf takes a lot of energy. From the fertilizer, fuel for the combine, turning the corn into a food product, and transporting that final product to the store shelf, all of these steps use extensive amounts of petroleum.

So, why do I bring this up? I get fed up with political rhetoric from our representatives vilifying American oil and gas companies for, well, doing nothing more than existing. The reality is that oil and gas meet a majority of America’s energy demands, and will into the foreseeable future. Listening to talking head on TV, one would think oil and gas companies pay no taxes at all. In reality, they pay the highest, of any other sector in corporate tax rates. And they provide the fuel that, literally, runs the American economic engine, which has produced unprecedented prosperity.

Most importantly, let’s remember that these American oil and gas companies employ millions of people right here in the United States. These are average Americans trying to make an honest living and provide for their family. Let’s give platitudinal political rhetoric a backseat and examine the facts.