US Congress tackles the oil companies foreign tax credits

Issue 7 - 11 Sep 1979
The concerted campaign against oil companies in the United States has led to congressional reappraisal of the foreign tax credits they receive. Cutbacks in these credits would however reduce Aramco's expansion budget in the Kingdom, as well as appear to the Saudis like further criticism of the level of revenue they justifiably expect from their vital depletable resource.

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