Fox Report: House Dems target billions of dollars in oil company tax breaks (Fix Clinton mistake?)

Fox News Corp. ^ | 11-23-06 | Jim Angle, Fox News

[stockstrader]

Yep, removing incentives to drill for more oil will most certainly produce more energy. (s/off)

Unbelievable. Unfrikkinbelievable.

And yet there are people out there that 'buy that crap'!

[stockstrader]

Good point.

The Federal Government uses the oil companies as a 'branch of the IRS'--and the oil companies get the blame for the high cost of gas.

Amazing.

[RightWhale]

The break stems from the fact that the oil companies are allowed to drill on federal lands.

Right. Teapot Dome, ANWR.

[Mamzelle]

Are they going to cut the subsidy on biodiesel ($1 gallon), too?

[RushLake]

You sir are suffering from acute rational mind syndrome. Try hanging out with a few dips#it lieberals or moderates for a cure.

[4Liberty]

Are they rolling back subsidies or raising taxes?
If it's the latter, this will hurt Big Labor, Dems.

"Federal 'Windfall Profits Tax' Legislation [on Oil Co's] Will Cost Pension Holders"
See
http://biz.yahoo.com/prnews/060313/clm527.html?.v=11

[windchime]

I understand your reluctance to agree with Pelosi & company's terminology, but your comments shed light on their use of 'subsidy'.  Thanks.

 

[windchime]

"That will probably cause a little panic..."

Did it?

[windchime]

The people with all the answers (dems) haven't decided yet what they're going to cut. 

The poor guy representing the oil industry in Angel's report is waiting to see what actions they will take.  I'm sure those in the biofuel industry are in the same boat.

[windchime]

According to the report, Pelosi hasn't decided what they're going to do.

The document link had expired by the time I got to it, but you make a good point about pension funds possibly being affected.  

[Overseez]

No, it didn't.
:-(

I guess you can only really panic the left with an internet posting.