Cutting and Running from the Oil Companies
When it comes to collecting Americans' fair share of royalties owed the American people from oil companies, the Bush administration cuts and runs from its responsibility to collect them.
The New York Times today reports how the Bush administration's Interior Department has dropped its efforts to collect full royalties due the American government from oil companies for its leases, royalties which these companies have consistently underpaid.
According to the Times, "the agency had ordered Chevron to pay $6 million in additional royalties but could have sought tens of millions more had it prevailed. The decision also sets a precedent that could make it easier for oil and gas companies to lower the value of what they pump each year from federal property and thus their payments to the government."
As usual, this administration gives away the American people's money to corporate interests, whether they are no-bid contractors in Iraq, or oil companies taking oil on American land.