BP taking $10 billion tax credit from spill - MarketWatch
Quote(Credit is allowed under federal rules, company says in earnings report)
I would not know, but am willing to bet my socks that someone in DP knows the answer.
Quote(Asked in a conference call Tuesday about whether it has discussed the tax credit with President Barack Obama's administration, BP's outgoing chief executive, Tony Hayward said: "We have followed the IRS regulations as they're currently written."
After $17 billion loss, BP shakes things up
The oil giant plans to sell $30 billion in assets, appoint a new chief executive and alter the way it does business. Bruce Orwall and Neal Lipschutz discuss.
The Internal Revenue Service said it's not allowed under federal law to discuss individual taxpayer issues.
But the issue has raised red flags among federal officials, particularly in light of recent efforts by various other entities that have settled with the United States.
White House Press Secretary Robert Gibbs said the following in a briefing with reporters: "I don't think anybody would prefer that [BP] do that." Gibbs, however, did not say whether Obama would discuss the issue with BP.)
I rather imagine this matter will run and run and run.
An interesting news report though.