Democrats seek to slash subsidies for "Big Oil" - Budget Showdown

Associated Press, Salon by Andrew Taylor | May. 11, 2011 (News)
Senate leaders want to eliminate billions of dollars worth of tax breaks for energy companies

Democrats running the Senate are seeking to take away tax breaks that pad the profits of the five biggest oil companies by $2 billion a year and use the money to attack the spiraling deficit.

The new legislation would cut off immensely profitable companies like Shell Oil and Exxon Mobil from subsidies like a deduction originally aimed at boosting manufacturing. The top five oil companies have booked profits of $36 billion in the first quarter of ... Full Story »

Posted by Samuel W. Velsor IV

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Subjects: U.S., Politics, Business, Sci/Tech
Topics: U.S. Congress, U.S. Senate, Democrats, Republicans, Money and Politics, Oil and Gas, Taxes
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# Tweets: 2 (as of 2011-05-11)
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Posted by: Posted by Samuel W. Velsor IV - May 11, 2011 - 2:44 AM PDT
Reviewed by: Samuel W. Velsor IV (review), Patricia L'Herrou (review), David Lujan (review), M. Charles (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Samuel W. Velsor IV - May 11, 2011 - 2:50 AM PDT

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Patricia L'Herrou
3.1
 by Patricia L'Herrou - May. 12, 2011

this is a bare-bones story offering minimal information about what the democratic bill is, and that the republicans are expected to filibuster it. perhaps the writers believe that all who read this already know all the rest which is missing from here.

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Samuel W. Velsor IV
4.1
 by Samuel W. Velsor IV - May. 11, 2011

Pure case of give to the rich, Republicans want to give billions to oil companies while we try to cut the budget -- ongoing BS.

Republicans are expected to filibuster the bill. They say the companies would raise prices if the measure became law. More »

Samuel posted this story.
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M. Charles
2.0
 by M. Charles - May. 13, 2011

This is barely a story. More like an expanded headline. Nearly useless.

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