Obama's budget plan targets oil, gas tax breaks - USA Today

By Paul Davidson, USA TODAY President Obama's proposed 2010 budget takes pointed aim at oil and gas companies, eliminating myriad tax breaks and proposing new fees on the providers.

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The plan put out Thursday would repeal tax breaks intended to spur oil and gas exploration and penalize companies that don't develop wells on land leased from the government. It could raise tens of billions of dollars the next decade. 'Good news' for lower, middle classes The industry says the blueprint would discourage investment aimed at cutting oil imports.

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