Word: zwindler
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...natural gas industry, the Phillips decision set up a new list of "thou shalt nots" in fixing rate bases for independent gas producers. While Phillips will be permitted to raise its overall rates by $14 million, Examiner Zwindler rejected firmly a flock of hypothetical costs totaling $35 million, which Phillips wanted included in its rate base. Chief among these was an item of $11 million for federal income taxes that Phillips does not have to pay because of the 27½% oil and gas depletion allowance. Phillips argued that it still should be allowed to charge customers for the nonexistent...
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