Oil and natural gas industry officials criticized a plan from House Democrats to eliminate tax incentives for energy companies as part of broader efforts to trim the federal deficit. "Some of the proposals are just punitive to oil and gas as a sector. Others are even more specifically selective and more punitive by selecting just a handful of companies," said Jack Gerard, president and CEO of the American Petroleum Institute. The U.S. should concentrate on generating jobs, "not punishing a particular industry," Gerard said.
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