The Looting and Pillaging continues at a record pace

More wonderful news out of Washington. The federal government
is going to give up collecting many billions of dollars of royalty
payments from oil companies over the next few years. This at a
time when oil is at record prices.

In the same vein of their move to open the nation's old growth
forests to timber companies, and working feverishly to allow
drilling for oil in the pristine Alaskan wilderness, now comes the
next step – the feds will stop collecting the royalties imposed on
oil companies for drilling on public land.

According to The Times:

"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.



[Non-text portions of this message have been removed]