Oil & gas sector stung by Obama budget proposals
Tax changes proposed in President Obama's 2010 budget have raised concerns in the US oil & gas industry about supply security and price volatility. Pauline McCallion reports
The Obama administration has laid out budget proposals that, if enacted, could see a number of long-standing tax incentives and measures for US oil & gas companies repealed (see box). Industry experts have warned that, as well as adding to exploration and production costs, the plan could interfere with the administration's two main energy-related policies: clean energy and energy security.
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