Changing the Oil

Congress giveth and Congress taketh away. The nation's largest oil and gas companies are about to lose some big tax breaks. This could be good. It could be bad. It's probably a little of both. Donny Shaw's article at OpenCongress today sums it up: Now it appears that House Speaker Nancy Pelosi (D-CA) is planing on reattaching the House's recision of $14 billion in tax breaks and subsidies for oil companies and the mandate for utilities to produce 15 percent of their energy through renewable fuels. House and Senate Democrats on Wednesday unveiled a $ 21 billion energy tax package that in large part repeals tax breaks for the biggest oil and gas companies to fund long-term extension of renewable-energy tax credits and encourages biofuels and energy efficiency. FULL ARTICLE...