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May 17, 2011, 6:53 pm
By
Andrew Restuccia
The Senate voted not to advance the Democratic bill that would cut billions in tax breaks for big oil companies.
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May 17, 2011, 5:27 pm
By
Josiah Ryan
The Obama administration is an “enemy to production” and is responsible for high gas prices, freshman Sen. Rand Paul (R-Ky.) said on Tuesday. “Demand for oil and gas is outstripping supply,” said Paul. “Why don't we have more supply? Because the current administration is basically an enemy to production, an enemy to drilling, an enemy to all things related to energy.”
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May 17, 2011, 4:27 pm
By
Pete Kasperowicz
Four Senate Democrats this week asked the Federal Trade Commission (FTC) to investigate whether U.S. oil refineries are purposefully cutting back capacity levels in order to keep gasoline prices high.
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May 17, 2011, 4:04 pm
By
Josiah Ryan
Sens. Murkowski and Boxer jousted on
the Senate floor Tuesday regarding the repeal of tax breaks for Big Oil.
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May 17, 2011, 3:49 pm
By
Pete Kasperowicz
Democratic Sen. Mary Landrieu (La.) said Tuesday's planned Senate vote to raise taxes on oil companies is mere "entertainment," and accused her fellow Democrats of picking on companies that already pay a higher proportion of taxes than many other industries.
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May 17, 2011, 2:41 pm
By
Pete Kasperowicz
The Obama administration on Tuesday said it "strongly supports" a Senate bill that would increase taxes on oil companies, which the Senate was debating Tuesday afternoon but was expected to reject in a vote Tuesday evening. In a Statement of Administration Policy, the White House said it has put forward a plan to cut U.S. oil imports by one-third by 2025 and increase domestic production. "It is also clear that there are much more responsible ways to utilize the billions in taxpayer dollars provided to oil and gas companies through unwarranted tax breaks," it said.
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May 17, 2011, 1:45 pm
By
Pete Kasperowicz
Members of Congress this week will be closely listening to President Obama's Thursday speech at the State Department for a clarification on whether U.S. military forces will continue operations in Libya beyond late May, which many believe would require congressional approval. The United Nations on March 17 voted to enforce a no-fly zone in Libya, and military operations began on March 19. The Obama administration authorized the participation of U.S. military forces under the War Powers Resolution, which allows the president to commit U.S. forces for up to 60 days without congressional approval.
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May 17, 2011, 12:58 pm
By
Josiah Ryan
The Senate confirmed the nomination of Susan Carney, 71-28, on Tuesday to serve on the second U.S. Circuit Court of Appeals. Carney is the third circuit court nominee confirmed this year and the 24th overall judicial nominee. President Obama nominated Carney for the seat being vacated by Judge Barrington Daniels Parker Jr. on May 20, 2010 — almost exactly one year ago.
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May 17, 2011, 11:40 am
By
Josiah Ryan
Senate Majority Leader Harry Reid (D-Nev.) suggested Tuesday that the Democrats' bill eliminating tax breaks for the big five oil companies could be the first step in helping bring down "exorbitant gas prices.” “We have to do something about the exorbitant gas prices, and the best way to start with that is to do something about the five big oil companies getting subsidies they don't need,” Reid said on the Senate floor Tuesday morning. But two different studies concluded the bill would have no affect on gas prices.
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May 17, 2011, 10:59 am
By
Pete Kasperowicz
This is the second time the Congressional Budget Office has presented the idea as an option for generating revenue.
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