Dems Target Royalty Breaks for Oil Firms

[Judi Lynn]

Dems Target Royalty Breaks for Oil Firms

By H. JOSEF HEBERT
The Associated Press
Wednesday, January 17, 2007; 6:05 PM

WASHINGTON -- As the House prepared to impose new fees on oil and gas taken from federal waters, some Senate Democrats said Wednesday that royalty breaks for energy companies ought to be abandoned.

House Democrats are confident they can approve an energy package Thursday which includes a conservation fee on oil and gas from the Gulf of Mexico, seeks to recoup royalties lost because of a government error in drilling leases in the late 1990s, and rolls back several oil industry tax breaks.

Part of House Speaker Nancy Pelosi's priority agenda for the first 100 hours of Democratic control of Congress, the energy proposals targeting highly profitable oil and gas companies are expected to breeze through the House.

Rep. Nick Rahall, D-W.Va, chairman of the House Natural Resources Committee, said he expects bipartisan support and that the bill already has more than 200 co-sponsors.
(snip/...)

http://www.washingtonpost.com/wp-dyn/content/article/2007/01/17/AR2007011701624.html

[nebenaube]

1. YES! n/t

[Pachamama]

2. Just like all the other profiteering that has been done by this Administration in Iraq for their

buddies at Halliburton etc., the American people should be disgusted at the breaks that have been given to the Oil companies.

I sure hope the Dems stop these special breaks fast....

[Morgana LaFey]

3. All RIGHT! Go, Nancy, go! nt