NATION : Exxon Plans to Deduct Expenses
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VALDEZ, Alaska — As the slick of thick crude oil spilled by the Exxon Valdez stalled today in its movement toward the nation’s No. 1 fishing port, the giant oil company said it planned to repay the government for the military’s expenses, but would deduct it from its income taxes.
“We’re anticipating the costs incurred by the government at all levels will be eventually reimbursed by Exxon,” said Don Cornett, the company’s top Alaska executive. “In the normal course of things, cost of doing business is deducted from your income tax and that is how it is expressed to customers.”
As of Monday, 18,000 barrels of crude have been recovered, or 8% of the 240,000 barrels spilled.
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