October 31, 2006

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.


Anonymous said...

This shocking revelation should be no surprise to anyone but that makes this report no less scandalous or outrageous! This is a criminal administration eager to plunder the world and grab even more power!
And they readily reward their corporate enablers!
Now Bush's approval ratings are in the low thirties. To those who are now dissapproving of the Bush administration I can only ask "What took you so long?"

rc/vt said...

What continues to astound me is that nomal working-class Republicans will continue to vote Republican because they feel that their personal property taxes won't be raised. For that big fat favor, they are enabling a cadre of powerful monied interests who get breaks like these. Ordinary Republicans think that "lower taxes" means "lower taxes for individuals like me." In reality, it means lower taxes (and other fees) for the powerful and the wealthy, be they persons or transnational companies. Neat trick on the average bloke; nice treat for the rich.