BP Takes Another Billion Off Its Taxes
They are already writing off the $20 billion that doesn’t seem to be making it into anyone’s hands, and the research funds that aren’t funding any research, as I mentioned earlier, and now they are creating another write off according to the ABC: BP pledges $1 billion to restore oil-stained Gulf
BP has pledged $1 billion to jump-start projects aimed at restoring the US Gulf Coast after last year’s massive oil spill.
“The agreement in no way affects the ultimate liability of BP or any other entity for natural resource damages or other liabilities, but provides an opportunity to help restoration get started sooner,” the US Justice Department said in a statement on Thursday (local time).
It is touching that the Justice Department believes that, but wait until this gets to court and we’ll see if that has any truth to it.
Notice the wording – “pledged”, like this was a public broadcasting fund-raiser. BP may not get a tote bag, but it will damn sure use the money for a tax write-off.
As with every other fund that BP has created, the first step is the battle in Office Depot over the shape of the conference table, because there has to be a board to oversee the disbursement of this money. You are going to have the five Republican governors of the Gulf states trying to steal as much as they can to balance their budgets and the people along the coast can pound salt.
