House revisits oil taxes
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The House is going to make another run at imposing more than $16 billion in taxes on major oil companies.
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WASHINGTON -- The House, eager to do something about record high gasoline prices in advance of the Memorial Day weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging.
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House Speaker-to-be Nancy Pelosi's plan to repeal tax breaks for oil companies in the first 100 hours of the new Congress could face roadblocks in the Senate.
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In four separate pieces of legislation -- two energy bills, the farm bill and a bill that would fund rural schools and libraries -- lawmakers in the House of Representatives make use of $6 billion in payments from oil companies.
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Record-setting natural gas and oil prices are teaming up to create a winter of discontent for many households. With crude oil breaking $50 a barrel and continuing to climb, it is time to consider how to offset
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It should only be this simple: Oil prices plunge 20 percent, leading businesses and consumers to ramp up their spending, which gives a nice jolt to the economy. That seems to be the conventional wisdom on Wall Street right now, where the pullback in energy prices is being cheered by investors. But some contrarians think that view could be missing the point.
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Senate Democrats are seeking a major reversal of energy tax policies that would reverse incentives and benefits to the oil industry and instead underwrite renewable fuels.
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ARLINGTON, Va., Dec. 8  /PRNewswire/ -- Today the U.S. House of Representatives approved H.R. 6111, which includes the Gulf of Mexico Energy Security Act (S. 3711).  Senate consideration of legislation containing S. 3711 is anticipated by Sunday.  The U.S. Senate passed S.
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WASHINGTON -- A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions. That could keep gasoline prices high, possibly for years to come.
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The House of Representatives voted  on Wednesday to revise how the federal government reviews  foreign takeovers of U.S. companies, sending the legislation to  the White House.
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Despite talk of an energy crisis and the need for independence from foreign oil, Congress seems to be in no mood to open more of the country&#039;s coastal waters to energy development.
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The House voted overwhelmingly yesterday to expand offshore oil drilling and preserve a variety of popular tax breaks for families and businesses, but the wide-ranging last-minute package faced serious opposition in the Senate from lawmakers angry about trade provisions and its $50 billion cost.
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The U.S. Congress comes back to town  next week to sift through the pieces of the latest oil patch  disaster -- pipeline corrosion that threatened to shut down the  giant Prudhoe Bay oil field in Alaska.
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Democratic leaders in the U.S. House of Representatives on Tuesday began laying the groundwork for an economic stimulus plan of about $100 billion that likely will include tax rebates to help stave off a possible recession.
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WASHINGTON - High oil prices, which have been a factor in virtually all U.S. recessions over the past three decades, are surging again this year...
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The House of Representatives on  Tuesday approved an energy bill to increase the fuel efficiency  of cars and trucks for the first time since 1975, boost  production of ethanol and cut energy use in light bulbs and  appliances.
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Iraqi officials said Friday that a U.S.-backed draft oil law will soon be returned to the Cabinet for approval after Kurds agreed to a compromise revenue-sharing measure. But they said many key sticking points remain unresolved &#151; and not even addressed &#151; in the watered-down legislation.