http://priceofoil.org/2009/02/27/obama-targets-30-billion-oil-and-gas-subsidies/
Yesterday, proclaiming a "once in a generation" opportunity, President Obama proposed a 10-year budget that offers a serious change of direction on many issues to the one taken by his predecessor. Moreover hidden deep in Obama's budget are proposals to repeal several oil industry tax incentives while imposing new taxes on Gulf of Mexico producers to close "loopholes" that have allowed companies to avoid royalty payments.
Yesterday, proclaiming a "once in a generation" opportunity, President Obama proposed a 10-year budget that offers a serious change of direction on many issues to the one taken by his predecessor. Moreover hidden deep in Obama's budget are proposals to repeal several oil industry tax incentives while imposing new taxes on Gulf of Mexico producers to close "loopholes" that have allowed companies to avoid royalty payments.
