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

"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."

"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."

See how the government takes care of the people they really care about. They're still screwing the Katrina victims, and everyone else on the bottom, as well as the middle and working class who are paying for everything, while they blatantly raise budgets for programs that only benefit those at the top. They continue to lower or eliminate taxes for their friends. Now, as a slap in our faces, they decide not to collect billions from oil companies who are already reaping excess profits.

It's amazing they would do that, right after hearing how many more billions the President wants to continue his wars of conquest. They cut taxes for the rich, raises them for the rest, and somehow expect it to all balance out. You would think that during a time of war, those that are going to benefit by it (big oil), would have to pay their fare share. You would also think that all those middle and working class bush supporters would know by now just how much they're being ruined by their hero. You would think that there would be riots in the streets demanding a change in government behavior.

But.....all's quiet on the homefront......