$10 billion save for BP?
BP said Tuesday that it plans to seek a $10 billion tax credit from the U.S. government because the company has lost so much money from the Gulf of Mexico oil spill.
In announcing its secondquarter results, BP said it would record a $32.2 billion charge against its earnings to reflect the cost of the spill. Under U.S. corporate tax law, companies can take credits on up to 35 percent of their losses. That means taxpayers could be covering part of the money that BP pledged to compensate people and businesses harmed by the disaster.