Energy Scam Story aired: Tuesday, October 07, 2003
How's this for a business opportunity: you make something you know very well is not what it's supposed to be, but for that the IRS rewards you with a huge tax cut. Plus, you wind up making a tidy, oh, say, 1,000 percent plus return on your investment.
It's all legal. All you have to is drive a few thousand coal hoppers through a massive loophole in the tax code by pretending you're making synthetic fuel.
The scam's the subject of a story in this week's Time Magazine. It was investigated by Donald Bartlett and James Steele.
