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Thread: 7 Billion dollar givaway from Bush to the destitute oil companies

  1. #1
    Elite Member Grimmlok's Avatar
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    Thumbs down 7 Billion dollar givaway from Bush to the destitute oil companies

    good lord.

    Because, seriously, the oil companies aren't making enough profit, they need a government handout:

    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.


    Yes, because the federal government already has more money than it needs, and the oil companies have been suffering so much of late.

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    Friend of Gossip Rocks! buttmunch's Avatar
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    Default Re: 7 Billion dollar givaway from Bush to the destitute oil companies

    Ok, if you keep posting this shit I'll probably have a stroke.
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    Elite Member Grimmlok's Avatar
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    Default Re: 7 Billion dollar givaway from Bush to the destitute oil companies

    Sorry butty... welcome to Amerikkka.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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