The Peach

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Saturday, April 30, 2005

Money For Nothing

If the American people need more evidence that the Bush administration favors big oil, they just need to look at this AP report. A provision in the recently passed energy bill would require federal compensation to private companies for costs associated with oil and gas leases that can't be developed.

In other words, taxpayers must shell out money for worthless land purchased by energy companies. This would include properties prevented from being explored because of environmental or safety reasons. Of all such properties, 36 are located right off the coast of California.

Peter Douglas, executive director of the California Coastal Commission, referred to the provision as "a rip-off of the public treasury." Rep. Lois Capps (D-Calif) said the bill would force taxpayers to "fork over billions of dollars to the oil companies that don't want to develop the leases anyway."

This just another opportunity for Bush to fill the pockets of his oil friends.


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