As If I Didn't Already Hate Gas Companies Enough...

[duane1969]

BP plans to cut it's tax bill by $13 billion dollars by writing off it's losses from last year's oil spill. That's right. You read correctly. BP spilled billions of dollars of oil, destroyed a coastline and seafood industry, still hasn't completely cleaned up...and now they are sticking America with the bill.

http://www.foxnews.com/politics/2011...-losses-spill/

[theonedru]

and on top of that they will find a way to raise prices for their already overpriced product and stick that to consumers as well

[duane1969]

They are ahead of you on that one.

[theonedru]

true but they are always pushing the bar higher and higher

[sanfran22]

Lol, not sure about the overpriced part of that but welcome to the machine.......

[habsheaven]

Is BP not a company just like any other company? You cannot impose expenses on a company (clean up, fines/restitution) and then deny that company the ability to claim those expenses against revenues.

[pr0phet]

Is BP not a company just like any other company? You cannot impose expenses on a company (clean up, fines/restitution) and then deny that company the ability to claim those expenses against revenues.

What if they claim the it wasn't their fault

[habsheaven]

What if they claim the it wasn't their fault

Not sure what that has to do with anything. If they have legitimate business expenses, they are entitled to claim them. Government cannot just change tax law for one company because they feel like it.

[duane1969]

Not sure what that has to do with anything. If they have legitimate business expenses, they are entitled to claim them. Government cannot just change tax law for one company because they feel like it.

Agreed. It is a tax loophole that they are using.

I take issue with it because the government and people have footed part of the bill for the cleanup not to mention the economic losses that the spill caused. BP has not completely cleaned up the mess. BP has not reimbursed those who lost money because of the spill. BP has not reimbursed the government for what they spent to fix BP's mess.

I take issue with them not cleaning up their mess and then profiting from the mess on top of it.

[habsheaven]

Agreed. It is a tax loophole that they are using.

I take issue with it because the government and people have footed part of the bill for the cleanup not to mention the economic losses that the spill caused. BP has not completely cleaned up the mess. BP has not reimbursed those who lost money because of the spill. BP has not reimbursed the government for what they spent to fix BP's mess.

I take issue with them not cleaning up their mess and then profiting from the mess on top of it.

How is claiming legitimate expenses a tax loophole? If they are claiming losses, how are they profiting?