2009-03-02
'It's Like Putting a Dagger in the Heart of the Oil Industry'. By Jim Landers, Dallas News, February 26, 2009. "President Barack Obama's first budget wallops the oil and gas industry by eliminating $31.5 billion in tax breaks while blaming the administration of former President George W. Bush for perpetuating the nation's dependence on fossil fuels. If Congress agrees to Obama's proposals, the long list of tax breaks that would disappear would affect both big and small oil and natural gas producers. Both reacted strongly against the proposals. 'I am just absolutely flabbergasted,' said Houston oilman Bruce Vincent, vice chairman of the Independent Petroleum Association of America. 'It's like putting a dagger in the heart of the oil and gas industry in America. If you actually did all these things, it would kill the industry.'"
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