GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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From: Kevin Rose	2/14/2006 12:50:28 PM
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Thank goodness the government is looking out for the oil companies profits. I was really worried; now we can rest assured that they will stay in business: Government may waive near $7 bln in oil, gas royalties: report NEW YORK (Reuters) - The government may waive up to $7 billion in royalty payments from companies pumping oil and natural gas on federal territory in the next five years, the New York Times reported on Tuesday, citing administration officials and budget documents. The royalty relief would amount to one of the biggest giveaways of oil and gas in U.S. history, even though the administration assumes oil prices will remain above $50 a barrel throughout that period, the Times report said. The report cited estimates in the Interior Department's recent budget plan that would allow companies to pump about $65 billion in oil and natural gas without paying royalties. news.yahoo.com

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