Feb. 27 (Bloomberg) — The U.S. House for the third time in more than a year approved new taxes on the oil industry to pay for incentives for renewable energy and efficiency.The $18.1 billion measure, versions of which have been rejected twice by the Senate, would remove a $13.6 billion tax credit from the world’s five biggest public oil companies, and impose a $4.5 billion tax on oil and gas companies operating abroad. Money from the policy changes would promote wind and solar power and offer incentives for energy savings technology.

Bloomberg Article Here

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