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03/10/2008
General Interest - Quick TakesSenate Republicans pressed to support billDemocratic leaders in both houses of the US Congress used record-high crude oil prices to press Senate Republicans to back a House-approved bill that would shift $18 billion in tax breaks from major oil companies to alternative and renewable energy projects.Responding to news Mar. 3 that crude oil prices reached $103.95/bbl, breaking a record set in 1980 when adjusted for inflation, Senate Majority Leader Harry M. Reid (D-Nev.) said: “As oil prices reach record highs in a weakening economy, Democrats remain committed to repealing Big Oil’s tax breaks and instead use that money to expand incentives for inve...
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