U.S. Has Royalty Plan to Give Windfall to Oil Companies

[JohnWxy]

http://www.nytimes.com/2006/02/14/business/14oil.html?_r=1&th=&adxnnl=1&oref=slogin&emc=th&adxnnlx=1139915063-/41ncL9VCE/E1vLaROCEGg

The federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years.



Royalty-Free Oil and Gas New projections, buried in the Interior Department's just-published budget plan, anticipate that the government will let companies pump about $65 billion worth of oil and natural gas from federal territory over the next five years without paying any royalties to the government.

Based on the administration figures, the government will give up more than $7 billion in payments between now and 2011. The companies are expected to get the largess, known as royalty relief, even though the administration assumes that oil prices will remain above $50 a barrel throughout that period.

IF this turns your stomach go to www.congress.org to let your representatives know what you think of this corporate giveaway which is many times the committment to renewable fuels such as corn based ethanol, bio-diesel, cellulosic ethanol.

To send emails to Corporate Networks go congress.org media guide and tell Corp. Networks the reason they are quickly becoming irrelevant is that people are going to the web to find out what is really going on. People are sick and tired of Corp Newstainment just reciting the propaganda of the current administration or providing sanitized accounts of events, acceptable to ruling party, and not going beyond that to the report the truth - what this administration which is so devoted to the principle of "The Big LIe" does not want the Corp Networks to report on.

[wisteria]

1. Senator John Kerry has taken on this situation !

"John Kerry announced this morning that he will introduce a resolution in the Senate today that highlights the need to fix the royalty relief program for oil companies. The NY Times reported today that, “The federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years.”

“It’s not America that’s addicted to oil, it’s the Bush Administration that’s addicted to oil. How else can you explain that buried in the President’s budget is one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years?

http://blog.thedemocraticdaily.com/

[blm]

2. Call your senators to support Kerry's efforts on this.

.

[OzarkDem]

3. Thanks!

K&R

[welshTerrier2]

4. this is good but not good enough ...

it's outrageous that federal legislation is nothing more than a big fat corporate welfare check to the abusive $100 billion oil industry ... Kerry and those who support this effort should be commended ...

but let's not lose sight of the real abuse regarding giveaways to Big Oil ... the $7 billion ain't chicken feed but it's a drop in the bucket when compared to the real abuse ...

American foreign policy has catered to Big Oil for many decades ... most of the obscene profits made by Big Oil over the last few years can be directly attributed to political and military instability in the Middle East ... the longer the "war on terror" goes on and the longer we spend making Iraq "a democracy", the longer oil prices will remain sky-high and oil profits will continue to soar ...

there are a million reasons to end the war in Iraq immediately; one of those reasons is that it's doing nothing but bulking up the bloated wallets of those who control the American oil industry ... it's obscene ... if we are really serious about taking money out of politics, we have to remove the incentive we give Big Oil to invest in our politicians and their political decisions in the Congress ... right now, we have a situation where candidates are wined and dined, they vote for war (ya know, to protect us), and Big Oil reaps in billions from a relatively small investment ...

the royalty abuse is real; the foreign policy abuses are much worse ... this is a good starting point but it needs to go much further ...

[JohnWxy]

5. YES. YOu are right.

Now go to www.congress.org to communicate this insight to your representatives. To tell the Corporate NEtworks about the real impacts of dependence on fossil fuels go to congress.org/media guide and tell them what you just wrote.

This is why we should be pushing ahead with renewables with everything we've got. - Just like the MIssion to Land a man on the Moon, only it's MORE IMPORTANT than that! But Cheney's hand puppet will never do that! (he'll just talk about doing it!).

Good stuff! More need to see what you said.- especially the MSM!

[Jacobin]

6. Unfrickingbelievable

The government has ALWAYS received a royalty from offshore and government owned lands, because the government owns the fucking land.

Landowners or mineral owners get a royalty but the government is going to GIVE AWAY billions????

Man, that bribe money spread around Washington pays off really really big dividends.

Bet they didn't spend one thousandth of that on the congresscritters.

Our politicians are extremely cheap whores.

[RandomKoolzip]

7. Finally someone's doing something for those poor oil companies!

Cuz, ya know, they've had the hardest time staying afloat. :eyes:

BTW, lurking freepers: isn't this a "handout?"