No unique tax breaks or subsidies.
Some people think that the oil and natural gas industry gets big tax breaks, special favors, and back-end deals. Nothing could be further from the truth. The industry doesn’t receive subsidies or unique tax breaks that are any different than those available to other industries. The industry is eligible for the standard business deductions that are available to most other industries.
American energy supports America.
As American oil and natural gas producers put Americans to work, they are also paying their fair share in taxes. In 2012, the industry generated $74 billion in government revenue. That money helps the budgets of our federal, state, and local governments support the roads, schools, parks, and countless other necessities in our communities.