Any Questions?

Ever wondered who's calling the shots in Washington these days? And this would be in addition to the current scam bing run to calculate the oil and gas royalties that actually are paid. Then again, it's not like BigOil had a bad year, profit-wise. NYTimes (02.14.06):

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

It's still not enough for some of these guys. "Last week, Kerr-McGee Exploration and Development, a major industry player, began a brash but utterly serious court challenge that could, if it succeeds, cost the government another $28 billion in royalties over the next five years." "If Kerr-McGee is successful, administration projections indicate that about 80 percent of all oil and gas from federal waters in the Gulf of Mexico would be royalty-free." And we get to sit and watch!! "Short of imposing new taxes on the industry, there may be little Congress can do to reverse its earlier giveaways. The new projections come at a moment when President Bush and Republican leaders are on the defensive about record-high energy prices, soaring profits at major oil companies and big cuts in domestic spending." "Indeed, Mr. Bush and House Republicans are trying to kill a one-year, $5 billion windfall profits tax for oil companies that the Senate passed last fall." Yet another issue to beat 'em over the head with come November. See, also, Gale Norton, Interior Department Secretary, duplicity.