I understand that income taxes assessed on oil companies are not directly assessed on American consumers. However, it seems like a relatively simple conclusion that gas prices will likely increase if oil and gas producers are forced pay additional income taxes to the federal and state governments. They are corporations that are working hard to produce earnings for their shareholders. Additional income taxes would seem like a reason for oil and gas producers to further raise prices to support their earnings and stock valuation. Am I missing something here?
Gas prices: Obama urges repeal of oil company subsidies - latimes.com
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