Obama targets oil majors in budget;seeks rollback of $31B in tax breaks

摘要

In yet another signal of his intentions to shift the US awaynfrom oil to cleaner sources of energy, President Barack Obamanlast week proposed to roll back more than $31 billion in taxnbreaks for major oil companies over the next 10 years.nObama outlined the proposals in a summary of his fiscaln2010 budget, saying more details would be provided in April.nThe budget blueprint proposes to tax oil and gas productionnin the Gulf of Mexico “to close loopholes that have given oilncompanies excessive royalty relief.”