So, You Still Think Team Obama ‘Shook Down’ BP?

by Greg Pollowitz

Back in June I wrote, contrary to what a lot of Republicans were saying, that BP wasn’t shaken down by President Obama and forced to pay the $20 billion into an escrow account to cover Horizon claims. Because, if it were an actual shakedown, maybe some of the smarty-pants in D.C. would have anticipated this in their negotiations with BP:

Despite causing an historic oil spill in the Gulf of Mexico last year, BP plans to reduce its tax bill by almost $13 billion by writing off its losses. 

The move is legal and above board. But with millions of Americans having just settled up with the IRS for 2010, it’s causing consternation among activists who say BP shouldn’t be offsetting its losses with federal money — especially when Washington is in a budget crunch. 

“The U.S. taxpayer shouldn’t be … footing the bill for this. That just seems insane to me,” said Aaron Viles, deputy director of the Gulf Restoration Network. 

BP confirmed to that it paid no federal income tax to the U.S. government in 2010, though the company said it paid “significant” non-income tax and state income tax in the United States.

Well, duh! Don’t blame BP, blame President Obama if you think BP is stiffing the American taxpayer.

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