Monday, January 23, 2006

It's a Gas

Oil companies have record profits. But taxpayers aren't getting many added benefits from the $60 billion in oil and gas pumped out of publicly owned lands.

The New York Times calculates if royalty payments rose in line with oil prices -- it should have meant $700 million dollars more in the national treasury last year.

In fact, energy companies paid less in royalties for natural gas pumped out of your land last year than they did in 2001. (NYT)

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