Government actions could impede small business growth

One family-owned manufacturing business in Texas is speaking out against government actions that could prevent responsible oil exploration and a subsequent boost to small businesses in the state.

According to an article in the Houston Chronicle, attempts by the government to rein in big oil operations could have lasting effects on the small businesses that serve those companies.

It's already been a trying time for many in the oil and gas services businesses or for manufacturing companies that create parts and products for industry players - the drop in oil prices from highs last summer have forced many operations to cut investments and exploration.

The Texas business owner from the Chronicle article said of some proposed government actions, "Higher taxes on our energy industry also make it difficult for the U.S. to compete with global competitors, national oil companies in unstable regimes like Russia and Venezuela."

William Whitefield continued, "Imposing new energy taxes on natural gas production would only make us less competitive, increasing that dubious reliance."

Meanwhile, uncertainty over future demand for oil and lingering concerns over the health of the global economy pushed oil prices lower on Monday.