Big Oil Incentives

Posted: 12/23/2006 by Floyd in Labels:

A report seems to suggest that big oil incentives barely help the U.S while big oil pockets the profits. The report explains that if they were to use the money a lot more oil could be bought from it on the open market. In other words all the big giveaways to big oil the Bush administration so freely hands out has profited us about nothing.
The study, which the Interior Department refused to release for more than a year, estimates that current inducements could allow drilling companies in the Gulf of Mexico to escape tens of billions of dollars in royalties that they would otherwise pay the government for oil and gas produced in areas that belong to American taxpayers.
This is actually a study that was not going to come out to the public, a report that needed to be hid from the American taxpayer. America over the past few years have blown up it's incentives, while other countries has demanded a bigger share of revenues, and what have we gotten for this? Well for starters our gas prices have risen, while the oil companies continue to profit from the big government giveaways.

It is not only big oil, according to the article gas got on board to with the government hand-outs. Apparently we will gain about half of $10 billion the government stands to lose, in other words the government keeps filling the pockets of big oil and gas and the average American keeps getting the shaft,
Back in February when the Democrats were still in the minority status they desperately tried to put a damper on the big giveaways initiated by the Republican Congerss and the Bush administration.


  1. sally says:

    Ain't it just funny how Bush went on
    and on about how the US was addicted to oil? Ok, foreign oil is evil and domestic oil is alright? The subsidies say that is the way this administration believes...

  1. Floyd says:

    Hey thanks for stopping and commenting Sally, yeah he made the addicted to oil speech, and of course the proof is in the pudding.

    It is getting harder and harder for them to lie, because eventually, it gets leaked to the press, this is one that I am sure was intended to be kept under wraps.

    ahh, the beauty of the internet,,thanks again Sally and don't be a stranger.

  1. Hey, just wanted to stop by and say thanks for the post on our site

  1. sally says:

    Floyd, nice place you got here...Merry Christmas!

    Nothing stops this administration from doing anything shady!

  1. fc says:

    Hi Floyd... Good post... Something else you don't hear is that we have already spent more money in Iraq than all the oil that they would have exported to us would have cost... Go figure...

    Have a good holiday, bud...

    - fc

  1. Floyd says:

    Merry Christmas to all, and glad you guys came by, thanks Sally and thanks for stopping by again. Politics America my friend thanks for coming by and fc, my friend it is nice to hear from you again and again Merry Christmas and Happy New Year.

    Yep another year is starting out and we are still bogged down in Iraq and big oil still has their hands in our pockets, and of course we still have an idiot running the show. Sally I am going to link to you so I can visit more often,,later guys.

  1. Floyd says:

    Put you on Liberty Row Sally, o.k I am going to eat now with all the fam. Merry Christmas Bravo 42nd. And Merry Christmas to all of the men & women risking their lives today, may all of you get home safe and you remain in our prayers always.

  1. CD says:

    This does not surprise me one bit. The gov't seems to be very good at wasting money. I believe and don't quote me on the number but the republican party is financed mostly through the oil companies...70%. I believe its 70-80%. So we have the oil companies on one hand and private companies like Halliburton/KBR on the other hand who charge the gov't high fees and get away with it. Not only that but skims U.S. troops and private citizens in Iraq. Ok, I'll shut up now! Anyways floyd, good post as always!

  1. Floyd says:

    Thanks for coming by cd and for the in-put, any break given by this administration is generally skewed toward the big conglomerates of our nation.

    I took a look at a book written by a KBR driver in Iraq, did not rally go into the details of the company, but from what the drivers make, they sure are not doing to shabby, but from the book I saw into Kuwait a little and Kuwait itself, where they house the drivers at sure is not none to safe, the risk is not worth the money. But again like you say it is the higher-ups in these operations that are getting filthy rich.

    Our grand-children will never pay the debt this administration and rubber stamp Congress has laid on our backs, so many years of reckless spending has hurt us tremendously in the long run, we have not yet known how much it has destroyed us yet.