Where does U.S. oil money go when Obama promises to punish the oil companies for excess profits? Reuters’ Sam Cage knows: "The tidy towns and mountain vistas of Switzerland are an unlikely settingfor an oil boom.Yet a wave of energy companies has in the last few months announced plans tomove to Switzerland -- mainly for its appeal as a low-tax corporate domicilethat looks relatively likely to stay out of reach of Barack Obama'stax-seeking administration.Over the past six months companies including offshore drilling contractorsNoble Corp and Transocean, energy-focused engineering group Foster Wheelerand oilfield services company Weatherfield International have all announcedplans to shift domicile to Switzerland.Swiss cantons are free to set their own tax rates. For example in Zug,corporate tax is about 16 percent but can fall as low as 9.5 percent forcompanies that do most of their business outside Switzerland. That compareswith an average global corporate tax rate of 25.9...(Read Full Post)