Inhofe EPW News Roundup

By EPW Blog —— Bio and Archives--May 10, 2011

Link to Inhofe EPW Press Blog Inhofe Release: A Real Gas Price Solution: Produce More American Energy, Overturn Obama EPAs Cap-and-Trade Agenda AP: Menendez acknowledged that the legislation - slated for a vote next week - won't do anything about gas prices exceeding $4 a gallon in many places. - Republican opponents say the companies would simply raise prices if the measure became law. Menendez acknowledged that the legislation - slated for a vote next week - won't do anything about gas prices exceeding $4 a gallon in many places. The measure would also eliminate the so-called oil depletion allowance for the five oil companies. That allowance permits producers a tax deduction comparable to the break given manufacturers for depreciation of the value of an investment in plants and equipment. The other companies that would be affected by the legislation are BP, Chevron, and ConocoPhillips. "It's a shame that this industry hasn't been appreciated for all of the good that it does," Landrieu said.

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