On the recordMarch 2, 2011
We have basically shut down our production in the Gulf of Mexico, and it's a boneheaded policy to do that. But not only that, the administration in its budget proposal is now proposing nearly $50 billion in new taxes on small, independent oil- and gas-producing companies. Now that's going to put a lot of these guys out of business; they can't cash flow. And they do a lot of the work on the Continental Shelf in shallow water areas, and also our onshore production in oil and gas. And there's a distinction between oil and gas----
