USArmyRetired
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- May 29, 2010
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I'm a independent oil and gas contractor and don't drill on Federal Land or Waters. My rigs drill on the private property of local owners. I do have to get state and federal permits The money stays in the communities and Louisiana where I drill. You can't believe the New York Times due to their liberal views on drilling. It was they who advocated with Obama shutting down the entire drilling rigs offshore.One thing the republicans did that was good for my business was high oil and gas prices. Royalties went up as well as drilling increased with new leases purchased. The business was steady here in Louisiana. We prospered and filled up the general fund.
http://www.nytimes.com/2006/09/21/business/21royalty.html
WASHINGTON, Sept. 20 Four government auditors who monitor leases for oil and gas on federal property say the Interior Department suppressed their efforts to recover millions of dollars from companies they said were cheating the government.
The auditors contend that they were blocked by their bosses from pursuing more than $30 million in fraudulent underpayments of royalties for oil produced in publicly owned waters in the Gulf of Mexico.
The lawsuits have surfaced as Democrats and Republicans alike are questioning the Bush administrations willingness to challenge the oil and gas industry.
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Add in the subsidies, and I wonder if the oil companies were basically being given leases for "free"? Being ripped off may seem like good business, but in the long run, it's damaging.
What happens when you give corporations too much trust. When the Supreme Court made corporations "citizens", they insured this kind of thing would continue to happen. Remember, corporations are in it for "profit", not for the "good" of the country.