There you go again with yor dumb opinions.
You are so factually challenged, you resemble Dweeb.
Do you know how to use Google?? It appears not.
Let's break it down for the stupidheads like you, Nobraina:
""The foreign tax credit: This provision gives oil companies a credit for any taxes they pay to other countries. Altering this tax credit would save about $850 million a year.
Foreign governments can collect money from oil companies through royalties -- fees for depleting their national resources -- and income taxes.
A royalty would be deducted as a cost of doing business, and would likely shave about 30% off a company's tax bill. Categorized as income tax, it is 100% deductible.
Foreign governments long ago grew wise to the U.S. tax code. To reduce costs for everyone involved and attract business, they agreed to call some royalties income taxes, allowing oil companies to take the 100% deduction on a bigger slice of their bill.""
The tax credit is for oil production in foreign lands.
As such, they are NOT available to any business.
Unless the business is oil!! DUH
NonConventional fuels are:
""The Nonconventional Fuels (Section 29) Tax Credit went
into effect in 1980, following energy shortages and deep
concern about American dependence on imported oil.
Congress sought to encourage production of oil and
natural gas from “nonconventional” sources, such as
Devonian shale, tight formations, and coalbeds. These
deposits are unusually expensive to produce.""
Nothing to do with Green Energy, you idiot!!
Your right wing reflexive ignorance is exactly Obama was re-elected.
America sees how Republiclowns fawn over big Corporations, while trying to destroy the middle class.
Which is why Obama is President and Rmoney is a loser!
As for your 'sounds like', all yo do is prove your ignorance by saying that.
"Foreign tax credit" sounds like something available to all industries, as well as individuals on their tax returns.
"Credit for production of non-conventional fuels" sounds like green energy program.
All businesses expense R&D costs.