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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (391262)6/15/2008 6:40:22 PM
From: longnshort  Read Replies (2) of 1574854
 
Democrats have consistently blocked all efforts to make it easier to expand petroleum refining. Instead, the Democrats have done all they can to restrain refining, and thus choke the supply (and increase the price) of fuels nationwide.



Ø On November 18, 2005, Rep. Bernard Sanders (I-VT, who caucused with the Democrats) introduced a bill (H.R. 4420) to repeal, among other things, the tax incentive from the Energy Policy Act of 2005 allowing a taxpayer to expense 50% of the cost of certain crude oil refinery property placed in service before January 1, 2008.



Ø On April 27, 2006, Rep. John Larson (D-CT) introduced a bill (H.R. 5234) to repeal tax incentives from the Energy Policy Act of 2005 relating to expensing of crude oil refinery property and exemptions from limitations on oil depletion deductions for certain small crude oil refiners.
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