New Regulations May Cut Big Oil’s Profits

The Bedford Report released research on BP PLC (NYSE:BP) and Chevron (NYSE:CVX).

The press release is quoted as saying:

President Obama recently reiterated his interest in cutting tax incentives for the industry. With public anger over gas prices hitting Obama’s popularity as he revs up his 2012 re-election bid, he pressed for rolling back $4 billion in “unwarranted tax subsidies” at a time of budget cuts in Washington.

Click here to read the entire press release.