Big Oil gets big boost from Congress

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Thought the $700-billion bailout package was all about getting Wall Street on its feet?

Think again.

Details of the enticements added to the bill to make it palatable to various members of Congress have been trickling out. There are tax incentives offered to producers of power from solar, biomass and wind. Plug-in electric cars got a break as well as other measures to promote conservation and efficiency.

But there also are generous tax breaks to build oil refineries, superheat sand and rocks to extract oil and turn coal into liquid fuel. All are under the heading of ‘alternative energy’ incentives.

-- Julie Cart