WASHINGTON (Reuters) – Republican presidential challenger Mitt Romney hinted he could eliminate billions of dollars in U.S. oil and tax breaks if he were elected, but the reductions would be far less than what President Barack Obama wants. Romney signaled in the first presidential debate in Denver on Wednesday that annual reductions of some $2.8 billion in tax breaks for oil and natural gas companies could be eventually traded for a lower corporate tax rate if he won on November 6. “If we get that tax rate from 35 percent down to 25 percent, why that $2. …

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