Congress Hates Big Oil, Except …
… except when a Big Oil company is owned by their favorite
dictator. From Investor's Business Daily:
On the surface, H.R.  is awful all by itself. Passing 236-182 last
week, the bill scrapped the tax deduction routinely given to the major
integrated oil companies — Exxon, Chevron, BP, Shell and
ConocoPhillips — that helps them explore, extract, refine and market
the energy that drives our economy. […]
Congress made this even worse by ensuring that its discrimination
against the big oils would benefit Citgo, which happens to be owned by
those same companies' worst tormentor abroad — the brutal leftist
dictatorship of Venezuela's Hugo Chavez.
Under this bill, the dictator's oil subsidiary keeps its 6% deduction
for U.S. domestic manufacturing — the one the American oil companies
lose — because Citgo, technically, buys from Chavez.
[Bill number incorrect in the original, corrected here.]
Michelle has further comments.
Like all but eight Democratic congresspeople,
New Hampshire's Carol Shea-Porter and Paul Hodes voted for this
2008-03-03 6:00 PM EST
Last Modified 2012-10-13 6:48 AM EDT