Tuesday, April 19, 2005
Republicans Paying Off Oil Industry Supporters
Offering tax breaks for oil exploration in an era of massive oil industry profits is like offering W.C Fields tax rebates on alcohol purchases - yet the House Delay Hammered is doing it:|
House Energy Bill Increases Tax BreaksAs Billionaires for Bush say - Legislation: A Lucrative Investment
Legislation at Odds With Bush Proposal
By Justin Blum
Washington Post Staff Writer
Tuesday, April 19, 2005; Page A04
The House this week will consider $8 billion in tax breaks targeted to the energy industry at a time when some of those companies are enjoying soaring profits from high consumer prices.
The vast majority of the tax breaks would benefit companies that produce and supply traditional forms of energy, with a large portion going to the oil and natural gas sector.