Wednesday, March 04, 2009

US Treasury secretary attacks oil, gas tax breaks | Markets | Reuters

 1. What about the job loss the are going to create by doing this?

2. Why is the U.S. Treasury Secretary punishing businesses because of the myth of global warming?

Bill

WASHINGTON, March 4 (Reuters) - U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday.

"We don't believe it makes sense to significantly subsidize the production and use of sources of energy (like oil and gas) that are dramatically going to add to our climate change (problem). We don't think that's good economic policy and we think changing those incentives is good for the country," Geithner told the Senate Finance Committee at a hearing on the White House's proposed budget for the 2010 spending year.

US Treasury secretary attacks oil, gas tax breaks | Markets | Reuters

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