Energy Bill Compensates Big Oil

AP reports, "a provision in a House-passed energy bill would require federal compensation to private companies for costs associated with oil and gas leases that can’t be developed." Specifically, the provision states that "if a permit denial or some other government action prevents a lease from being explored or developed," taxpayers will be responsible for forking over billions to the oil companies to "compensate" them. This comes at a time when oil industry executives are awash in so much cash from soaring gas prices that they literally don’t know "how to spend the windfall."

B. John

Records and Content Management consultant who enjoys good stories and good discussion. I have a great deal of interest in politics, religion, technology, gadgets, food and movies, but I enjoy most any topic. I grew up in Kings Mountain, a small N.C. town, graduated from Appalachian State University and have lived in Atlanta, Greensboro, Winston-Salem, Dayton and Tampa since then.

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