RECORD PRICES, RECORD RIPOFF
Volume XII No. 33 - November 9, 2007
One of the first lessons we learn as kids is that taking something without permission that belongs to somebody else is stealing. Executives at the Anadarko Petroleum Corporation, the second-largest oil and natural-gas producer in the U.S., seem to have never learned this important lesson. Last week, while oil prices were nearing $100 a barrel, the oil services giant won a court decision arguing that it doesn’t have to pay taxpayers for oil and gas it removed from federal waters.
Oil and gas companies lease taxpayer-owned lands and waters from the federal government to drill for oil and gas. In return for this right, they give taxpayers a percentage of the revenue generated from the oil and gas that is extracted. The $7 billion in annual oil royalty payments are the nation’s third largest source of revenue. pdf index
Court Rejects Fuel-Economy Standards NYT
Truck, SUV mileage standards thrown out by U.S. appeals court SFGate
Court rebukes Bush fuel economy plan, tosses light truck standards to take effect next year
Court tells U.S. to rethink fuel standards for many vehicles SacBee
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