Wednesday, June 20, 2007

Big oil to fund hybrid development?

Senate passes $29 billion tax package

The Senate Finance Committee passed a proposal to tax big oil almost $30 billion dollars. The tax revenues will then be used to fund clean technologies, such as hybrid cars, wind power, and clean coal. Now the proposal will be added to the energy bill and go before the full Senate.

$22 billion? Sounds like pocket change for big oil considering their profits in the last few years.

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