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The Bush & Cheney Gift to Oil Companies - $ billions

It is no secret that both George Bush and VP Cheney [the gun-slinger?] are friends of the oil industry. Good ol' Dick was CEO of Haliburton remember!

It comes as no surprise, then, to read in the NY Times that the Bush Administration plans on allowing oil companies to pump oil to the value of US $65 billion without paying any royalties:

"The federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years.

New projections, buried in the Interior Department's just-published budget plan, anticipate that the government will let companies pump about $65 billion worth of oil and natural gas from federal territory over the next five years without paying any royalties to the government".

That's quite breathtaking - especially as the proposed US Budget plans on cutting many benefits, such as Medicare, for the American people.

Read the complete NY Times article here - and be truly amazed!

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