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Dave Reed
Oil taxes tempt recession-scarred U.S. states as prices plummet

COLUMBUS, Ohio U.S. states are renewing efforts to pass taxes on oil and gas extraction and, while falling energy prices may please consumers, drillers say it's the wrong time to raise their costs. At least 17 states last year considered imposing or amending so-called severance taxes, which generated more than $16 billion in 2013 in the U.S. Many are expected to introduce similar bills this year, according to the National Conference of State Legislatures in Denver. Ohio Gov. John Kasich plans to seek a higher levy on drillers to offset an income-tax cut after opposition from the industry and lawmakers in his own Republican Party frustrated past attempts. Democratic Gov.-elect Tom Wolf...