Energy executives defend tax breaks

Houston Chronicle

By JENNIFER A. DLOUHY WASHINGTON BUREAU

Sept. 11, 2009, 11:43AM

"...But Calvin Johnson, a law professor at the University of Texas, said the industry's vitality — and jobs tied to it — aren't wedded to tax breaks. Tax subsidies aren't needed to encourage domestic production, he said.

“The price in oil and gas is high enough to provide additional incentive — and if more incentive is needed, the price would rise,” Johnson said. “The government should get out of the business of subsidizing oil and gas.”' Entire article>>>>