Petroleum Industry Claims Cutting Its Tax Breaks is “Discriminatory”

[econoclast]

3. Most of the "oil compamy tax breaks"

Are tax breaks available to all US based manufacturers. The one example cited above ..... The deductibility of royalties paid to foreign governments .... Is also available to other US companies who pay taxes to foreign governments. The "royalty" is in fact a tax and hence deductible.

The one tax break unique to oil companies is the accelerated depreciation of drilling costs. It is relatively small.

All the other stuff are things that are applicable to all US businesses.