Tags: Economic- Crisis | | Oil | taxes | labor | AFL-CIO | Amerivan Petroleum Institute

Chevron CEO: Big Labor Support for Oil Makes Sense for Jobs

Friday, 13 May 2011 06:30 AM

By Hiram Reisner

Chevron CEO John Watson says it is ironic that, at a time President Barack Obama is calling for continued reduction of dependence on foreign oil,  Congress would seek taxes from the prime producers of U.S. energy. Watson also told Fox News’ Neal Cavuto Thursday that support for oil companies from the AFL-CIO is not ironic, because the mammoth union understands the importance of the industry’s jobs.
“The president talked about reducing energy import dependence — and it’s ironic that, so soon after the president laying out his plan, which requires more production in the United States, that we would see punitive tax measures put in place that will inhibit our ability to develop the very resources that we’re trying to produce in this country,” said Watson, one of the oil company executives who testified before the Senate Thursday on a proposed bill.
“I was pleased to be able to share some pretty basic messages with Senate members — I told them that we pay our fair share of taxes,” Watson said. “I told them that the tax treatment we receive is comparable, in terms of deductions and credits, to the treatment received by other companies, and all we want is to be treated fairly and equitably, relative to other companies in our industry — both in the United States and abroad — and relative to other industries.
“I think one of the things that I tried to share with Senate members is that, rather than talking about shared sacrifice, we ought to talk about shared prosperity,” he said. “And the opportunity that our industry has to create jobs, create tax revenue . . . and ultimately put more supply on the market to keep prices down for consumers. So, I think we got those points across today.”
Cavuto asked Watson whether he found it odd the AFL-CIO co-signed a letter with the American Petroleum Institute voicing concern that raising taxes on oil companies could endanger jobs.
“Well, I think organized labor understands what we do, and that is that we create jobs — and we create good-paying jobs in our business, at our refineries and in our producing operations in the Gulf of Mexico and onshore in this country,” Watson said. “And we can do more of that.
“Do you know if we opened more areas for leasing, if we were able to get permits for all the activity that we would like to be able to conduct, we can create more jobs, and it’s good for labor, it’s good for taxpayers, and it’s good for the American public,” he said.

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

The 2016 'Book Race': GOP Candidates Like Ben Carson, Huckabee Sell Like Hotcakes

Friday, 30 Jan 2015 20:50 PM

If potential Republican presidential candidates' recent book sales are a strong indication of their electability, then B . . .

Smoke on Boston Train Scares Passengers Who Bust Out Windows to Escape

Friday, 30 Jan 2015 19:37 PM

A commute on Boston's Red Line Thursday morning turned into chaos as smoke filled the train and passengers broke out win . . .

Seth Jackson Sentence: Foster Dad Gets 32 Months in Hot Car Death

Friday, 30 Jan 2015 18:50 PM

Kansas foster dad Seth Jackson was sentenced to 32 months in prison Friday for the July death of a 10-month-old girl who . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved