Kerry to Introduce Resolution to Fix “Royalty Relief Program” for Oil Co's

[kerrygoddess]

John Kerry to Introduce Resolution Today to Fix “Royalty Relief Program” for Oil Companies
February 14th, 2006 @ 7:57 am

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 was made public today that the Bush administration will use the royalty relief program to allow oil companies to pump $65 billion worth of oil and natural gas from federal land over the next five years and waive any royalties to the government.

Below is a statement from Senator Kerry:

“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?

MORE & LINKS - http://blog.thedemocraticdaily.com/?p=1934

[ProSense]

1. Excellent! n/t

[TayTay]

2. Wonderful.

I was so mad when I heard that this morning on The Rachael Maddow Show. (Oil companies don't have to pay royalties.) I'm glad that Sen. Kerry is doing this. Oil companies should not be getting any freebies in this era of exploding profits for them. Put the money to use in LIHEAP and in getting medical care for our Vets.