Tuesday, January 16, 2007

Chevron May Lose a Fortune in Subsidies

By Chris Thompson
Tue, Jan 16, 2007 at 3:26 PM

Man, Chevron just keeps taking it on the chin. According to The New York Times, the new Democratic Congress intends to repeal a fortune in energy subsidies to Big Oil, including "leases that allow them to pump billions of dollars' worth of oil and gas from publicly owned waters without paying royalties to the government." The Times describes company executives as "resigned" but "quietly resisting."

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