Romney open to nixing oil industry tax breaks

Romney noted that much of the incentives flow to smaller companies, not the industry’s behemoths like Exxon, before noting that the tax breaks would be on the table in his plan to lower rates overall.


The former Massachusetts governor also pivoted to bashing the increased federal support that the Obama administration has provided to green energy companies. The 2009 stimulus law included tens of billions of dollars for alternative energy programs.

Romney cited the bankruptcy of the California solar panel company Solyndra, which collapsed in 2011 after receiving a $535 million Energy Department loan guarantee in 2009, and also cited the woes of several other administration-backed companies.

“I had a friend who said you don’t just pick the winners and losers, you pick the losers,” Romney said.