The Obama administration is proposing to cut all funding for research into natural gas technologies, a program that had received $18 million for the current fiscal year.

The spending plan would eliminate 12 tax breaks for the oil and gas industry, the largest of which is industry\’s ability to claim the Section 199 domestic manufacturing tax deduction. The Office of Management and Budget estimates ending it would bring in an extra $17.3 billion over the next 10 years.

Oil and gas industry officials said the proposal would increase their costs by $80 billion. But the administration says the tax provisions do little to encourage production or cut prices.

http://www.nytimes.com/gwire/2010/02/04/04greenwire-does-chu-faces-bipartisan-heat-on-proposed-oil-86595.html?pagewanted=2