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SPOTLIGHT

1. OIL AND GAS:

Industry defends tax breaks as Romney puts them 'on the table' for elimination

Last night's presidential debate marked the most specificity from Republican nominee Mitt Romney on whether oil and natural gas tax breaks would be eliminated as part of a broader budget deal, putting at least some of the incentives "on the table" as a trade-off for a lower corporate tax rate. Oil industry supporters were quick to defend their favorable tax treatment, with one representative indicating today that the trade-off Romney envisions could reduce the level of oil and gas development in the United States.

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