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Politics : Politics of Energy

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To: RetiredNow who wrote (647)	7/9/2008 10:53:07 PM
From: Brumar89	Read Replies (1) of 86355

$13 billion in offshore drilling tax credits the oil companies get, ??? There is no special tax credit for drilling offshore. Certain unconventional and enhanced (tertiary recovery) recovery production gets a tax credit of 15% of enhancement costs. This was enacted a couple decades ago to make it economic for companies to squeeze more oil out of marginal wells. Most offshore production doesn't receive any such credit.

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