january story correct remove reference paragraph conocophillips integrate oil company david morgan washington big oil could unique position protect interest republican proposal tax import give president-elect donald trump cabinet stud oil champion sensitive risk high gasoline price trump emerge leadership include exxon mobil corp chief executive officer rex tillerson secretary state former texas governor rick perry energy secretary oklahoma attorney general scott pruitt environmental protection agency administrator trump make secret support energy sector congress republicans democrats close industry tie include house tax panel chairman kevin brady texas republican whose district take northern houston suburbs house republicans want adopt sweep tax reform would sharply reduce tax rat corporations end taxation u.s. corporate overseas profit provision know border adjustability stir controversy though intend boost u.s. manufacture exempt export revenues tax provision worry industries would also tax import u.s. oil refiners import half crude oil use make gasoline diesel products analysts say change could lead high gasoline price potentially undermine economic growth integrate oil company exxon chevron corp bp plc royal dutch shell plc could also hit depend whether net importers industry ally would likely move soften rough edge analysts say see mix leadership figure house senate white house something effect raise gasoline price say peter cohn energy analyst height securities washington-based investment firm danger move protect oil refiners could open door assistance industries include retailers automakers would also face high cost long able deduct cost import taxable income knock-on effect could prevent border adjustability raise expect trillion revenues help pay low tax rat next decade hope raise concern early process allow members congress consider issue carefully chet thompson president american fuel petrochemical manufacturers trade group say statement brady say early month committee sensitive impact specific businesses listen closely make sure smooth out moreover economists dismiss industry worry high import cost say dollar value would rise response sweep tax change ultimately reduce cost import currency market would adjust high oil price low dollar value crude predict argument oil industry frankly wrong say douglas holtz-eakin former director nonpartisan congressional budget office head american action forum think tank refiners go basically hold harmless low dollar price oil net cost go business unsympathetic add height securities cohn say trump advisers could look ways soften blow refiners customers trump want refineries close watch oil already benefit several tax code provision place decades would eliminate house republican plan stand gain lose instance exist tax deduction domestic production let oil producers shave corporate tax rate 32 percent top headline rate 35 percent congressional republicans plan corporate rate would cut 20 percent trump plan 15 percent similarly company write intangible drill cost get tax allowance asset depletion would able immediately expense capital investments tax credit oil company claim fee foreign countries congressional republicans would eliminate foreign tax altogether trump would maintain taxation substantially low rate oil business see strong position trump tackle tax reform