So Big Oil leases drilling rights and is required to pay the rent(so to say)
The Government has a Minerals Managment office that audits mines and oil production and bills them. (Pay their rent)
Under the Bush administration this office was "reorganized" and Oil Companies now do not have to pay their rent. For drill rigs on Federal lands or in US Coastal Waters.
The accountants that billed the Oil Rigs got fired for asking for the rent check. Then when the Court ruled that Oil had to pay their bills like everyone else. The Ag's office said we should not be required to actually collect the rent from Big Oil.
So it's only a billion dollars outstanding. That's nothing.
2007-05-12 04:46:55 · 7 answers · asked by ShortBus43 2 in Politics & Government ➔ Politics
I'm surprised they put that on the air even after their head honcho that tried to swing them to right-leaning propoganda, is there no longer.
2007-05-12 05:00:10 · answer #1 · answered by jj 5 · 1⤊ 0⤋
The reason oil companies are making record profits is because the value of the dollar is so low. Oil is over 100 dollars a barrel tripling in the past 8 years. Meanwhile their wages haven't tripled. The real story here is that the price of Oil and the profits of the Oil companies are a result of the very weak dollar and failed policies of the Fed by printing more dollars that lower the buying power of each dollar. The price of gold and oil have increased by almost the same percent, reflecting that instead of blaming oil companies for milking us of cash that we should point fingers at the government which has made our currency worth so much less and as a result made us poorer. Until we realize that any action we take will be either harmful or ineffective.
2016-05-21 03:03:14 · answer #2 · answered by ? 3 · 0⤊ 0⤋
"What? Do you have an appointment for this meeting?"
Johnie Burke what an administrator.
Born in French Algeria, Ms. Burton moved to the United States in 1963 and became an American citizen in 1968. Ms. Burton holds the equivalent of a master's degree from the French University of Algiers and received a master's degree from the University of Wyoming. She has completed management training at Duke University.
You got to love it when the gov sides with the defendant. The best way to eliminate royalties is to sell the oil to yourself at below market prices. Losing money, so as to recoup it later, in the meantime no fees.
It ain't over till the fat lady sings.
2007-05-12 05:08:22 · answer #3 · answered by Wonka 5 · 2⤊ 0⤋
Very well known this is. I'm still waiting for Exxon Mobil to pay their billion dollar fine for the Exxon Valdez oil spill in Alaska 30 years ago, they haven't paid a penny for that yet.
2007-05-12 07:21:15 · answer #4 · answered by leonard bruce 6 · 2⤊ 0⤋
yeah. i read an article about this little game. can't say i'm surprised. what do expect when oil men rule our nation for their personal enrichment? Cheney held secret meetings with Big Oil and it's Big Oil dictating our country's energy and environmental policies. America ... for the Mega Corporations, by the Mega Corporations (and phuck the peon citizenry).
2007-05-12 05:12:53 · answer #5 · answered by nebtet 6 · 2⤊ 0⤋
That does not surprise me in the least. We all know big oil is what put bush in the white house. He may be retarded but, I do not think he is dumb enough to bite the hand that feeds him.
2007-05-12 04:54:56 · answer #6 · answered by Anonymous · 3⤊ 0⤋
Only libs watch PBS
2007-05-12 04:52:01 · answer #7 · answered by DeuceRider 3 · 1⤊ 5⤋