26 Feb '12, 5pm

Oil Lobby Says Call To End Big Oil Handouts Is 'Discriminatory' | Care2 Causes

Oil Lobby Says Call To End Big Oil Handouts Is 'Discriminatory' | Care2 Causes

The oil lobby American Petroleum Institute weighed in on President Obama’s corporate tax reform that closes an array of tax loopholes, including $4 billion in subsidies for the oil industry . Not surprisingly, API is unhappy. API President Jack Gerard played victim, calling the plan “discriminatory ” against an industry that “receives not one subsidy”: One day after the Obama administration unveiled a sweeping corporate tax reform plan, the oil and gas industry’s top lobbyist went on the attack against the president’s proposal. Calling it “discriminatory ,” Jack Gerard, president and CEO of the American Petroleum Institute, said the administration’s outline was more of a “Swiss cheese approach that we’re trying to get rid of in this country.” “The industry receives not one subsidy ,” Gerard claimed. “It takes tax deductions the same or similar to what all other American co...

Full article: http://www.care2.com/causes/oil-lobby-says-obamas-call-to...

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