We are on our way home from our Four Corners Furtherance vacation. While driving through the plains of eastern Colorado this afternoon, I saw a few oil rigs--which reminded me that yes, the energy industry exists in unexpected corners of America.
On the other hand, some senators don't want to let the British Petroleum/Deepwater Horizon oil spill to go to waste, which has caught the ire of the 362,000 member National Taxpayer's Union.
A Senate bill to address the oil spill clean up will eliminate "dual capacity" rules and forbid American energy producers from taking credits against domestic taxes on their income generated overseas.
But Venuezeula-owned Citgo, China's CNOOC, and of course BP will be less-hindered by the proposed legislation.
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