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Author Topic: You Know the Drill Back to Topics
vandamme

Champion Author
New York

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Message Posted: Oct 11, 2013 8:45:50 PM

So just how much are Americans being cheated out of? Let's just say taxpayers aren't just giving away their natural resources, they're paying Big Oil to haul them away.

In 2012, the U.S. gave away 120.8 million barrels of oil, based on Office of Natural Resources Revenue data, worth more than $10.44 billion if costed at the average oil price for that year. It also gave away 197 million cubic feet of natural gas. In total, these deals wiped out what the nation earned for all its natural resources combined. The same year, Americans got socked with $3.60 a gallon at the pump, the nation's highest-ever average gasoline price.
Visit Time for full article
REPLIES (newest first) Post a Reply
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TruthMatters
Champion Author New Jersey

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Message Posted: Oct 13, 2013 10:41:38 AM

OK
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MAC48
Champion Author Dallas

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Message Posted: Oct 13, 2013 10:07:40 AM

First, the US did not give away any crude oil or natural gas since the US was paid for the oil and natural gas produced through the payment of royalties from the producers and received by the US Treasury. Whether or not the amount of the royalties received is a good deal or not is entirely a different question but a 1/8, a.k.a. 12.5%, royalty based on gross revenue received by the producer from the sale of the crude oil and natural gas produced from Federal lands is a very nice royalty rate unless private land owners are getting significantly higher royalty rates.

The US needs to prohibit the export of crude oil and natural gas to any country other than Canada and Mexico unless the export of natural gas and crude oil is offset by an equal import of crude oil or natural gas from the receiving country such as an export of light crude for heavy crude imports or natural gas liquids for LNG on a equivalent barrel for barrel basis.
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humblepie
Champion Author Toledo

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Message Posted: Oct 12, 2013 10:57:38 PM

end subsidies for all energy programs sink or swim on everything

solar wind oil gas geothermal........everything
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tillandsia
Veteran Author Gainesville

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Message Posted: Oct 12, 2013 7:37:16 PM

Wow, that's just obscene. I hope this publicity will result in changes to these policies! We should all be receiving yearly dividends for our resources, like citizens of Alaska get!
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teafortwo
Champion Author Washington

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Message Posted: Oct 12, 2013 1:58:18 PM


Time to cut the welfare apron strings to these big greed fossil fuel industries.

As long as our elected officials are allowed to have corporate sponsors?

This will continue to be a problem.

You can not serve two masters.

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MusicalMan7
All-Star Author Ohio

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Message Posted: Oct 12, 2013 1:53:50 PM

what else is new? We also pay Communist nationals to come here for free college education, subsidize postage for Chinese e-commerce, etc.
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mitt4prez
Champion Author Tacoma

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Message Posted: Oct 12, 2013 1:22:14 PM

It's TIME, i.e. Won propaganda. Who does TIME think is running the "U.S.?"
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NilesBishop
Champion Author Philadelphia

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Message Posted: Oct 12, 2013 9:47:37 AM

Only in the US.
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EvenSkimpier
Veteran Author Cincinnati

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Message Posted: Oct 12, 2013 9:15:56 AM

Seems you have to be a fracker to enter a national park anymore.
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Peachy1
Champion Author St. Louis

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Message Posted: Oct 12, 2013 8:24:12 AM

OMG! Just gotta LOVE the total corruption!!! THANK YOU DC !!!!
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WonderfulMI
Champion Author Michigan

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Message Posted: Oct 12, 2013 8:08:20 AM

How is that "Drill here, drill now, pay less" working out for you?
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SUNOIL
Champion Author Toledo

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Message Posted: Oct 12, 2013 7:51:09 AM

Now this should start your day off
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johnpuh
Champion Author Ohio

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Message Posted: Oct 12, 2013 2:53:11 AM

Let me get this straight. Taxpayers are subsidizing an industry who is drilling on public land and raking in millions in profits. Who's pockets are getting lined here?
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pricewar
Champion Author Ogden

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Message Posted: Oct 12, 2013 2:19:59 AM

Drill baby drill
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YumaFellow
Champion Author Arizona

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Message Posted: Oct 12, 2013 2:14:38 AM

An eye-opening article.
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CiVX
Champion Author Oakland

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Message Posted: Oct 12, 2013 1:28:45 AM

yep
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gmaonthego
All-Star Author Michigan

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Message Posted: Oct 12, 2013 1:27:42 AM

Bend over America, drilling and fracking for every country but our own!!!!
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leemun
Champion Author Utah

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Message Posted: Oct 12, 2013 1:14:52 AM

Time--lost all it's creds. Socialist anti capitalist morons running that rag.
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MN1
Champion Author Twin Cities

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Message Posted: Oct 12, 2013 12:45:53 AM

Very true.
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LostInNY
Champion Author New York

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Message Posted: Oct 12, 2013 12:28:43 AM

You can thank Oblama for giving it away..
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pricewar
Champion Author Ogden

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Message Posted: Oct 12, 2013 12:05:52 AM

What can we do about it
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TXCRZ
Sophomore Author Dallas

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Message Posted: Oct 11, 2013 11:59:26 PM

Scary!
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Gabydominguez85
Champion Author Milwaukee

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Message Posted: Oct 11, 2013 11:52:57 PM

That's B...S....!!!
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Patriots9
All-Star Author Naples

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Message Posted: Oct 11, 2013 11:51:09 PM

Ok
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davenles
Champion Author Texas

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Message Posted: Oct 11, 2013 11:43:03 PM

Well said, Sammyadams.
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csblesson
Champion Author Texas

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Message Posted: Oct 11, 2013 11:31:15 PM

Know it
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nurdco
Champion Author Colorado Springs

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Message Posted: Oct 11, 2013 11:07:40 PM

I would have said Ahh... we get a Tongue Depressor shoved into our mouth and the Wallet BLEEDS while WE cough up...
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SammyAdams
Champion Author Tallahassee

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Message Posted: Oct 11, 2013 11:05:00 PM

There is undoubtedly much truth contained in this article which benefits everyone EXCEPT the U.S. "citizen taxpayer". The solution offered by this "greenie", however, is that the FEDs just exact a higher price for our natural resources. Then what?

Until the federal government mails MY royalty check, I find myself agreeing in major part with cgrey8 (Message Posted: Oct 11, 2013 9:18:12 PM). What good is it to any of US for the federal government to be charging private companies MORE for leasing public land, if we don't benefit therefrom?

I would be a strong advocate for selling much of this land owned by the federal government (at auction) and then retiring the national debt. If this land has the value that the author seems to indicate herein, then using the proceeds from the sale could feasible pay off the national debt and give US and our posterity the freedom to pursue our own happiness rather than as serfs paying to China a debt caused by and for the benefit of others.

The fact that we think of this "public land" as being OURS is false. In a socialist/fascist country (Like ours), the land doesn't belong to US, if the President can construct "Barry-cades" around our national monuments, parks, etc. in order to prevent us from utilizing what is our own. It's more like the public property of places like the "People's Republic Of China" where ownership of property is vested in NAME ONLY, but in reality belongs to the members of the Politburo instead.
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Oct 11, 2013 10:57:25 PM

Shame on them for wasting our taxpayer money!
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MrLefty0706
Champion Author Chicago

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Message Posted: Oct 11, 2013 10:55:12 PM

So what can we do about it?
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Pramodsharma
Champion Author Richmond

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Message Posted: Oct 11, 2013 10:54:46 PM

What a governance we have! Citations are not for enforcing discipline but for making revenue to government. Shame. So cops keep hiding on high ways
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Pramodsharma
Champion Author Richmond

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Message Posted: Oct 11, 2013 10:51:53 PM

Yes, In dictionary it is Physical Training
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HorizonChaser
Champion Author Montgomery

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Message Posted: Oct 11, 2013 10:43:30 PM

K
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humblepie
Champion Author Toledo

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Message Posted: Oct 11, 2013 10:36:51 PM

sounds like obamanomics to me
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TomT2Lee
Champion Author Cincinnati

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Message Posted: Oct 11, 2013 10:36:37 PM

Let' see, the same is true of every other product made in the US and sold else where. Grow up and get off your hypocritical baby chair. American's seem to think they are entitled to gas that is 50 cents a gallon. If you don't like it, invent something better. Stop crying to the professional politicians. You are playing right into their hands. It has already cost more than most seem capable of realizing, and the real bill, the one that generations do not recover from, is hanging by a thread.
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RRBC
Champion Author Victoria

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Message Posted: Oct 11, 2013 10:34:25 PM

Waste. Imagine what other costs we get dinged for
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rosa403
Champion Author Indiana

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Message Posted: Oct 11, 2013 10:14:55 PM

shocking
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VanIsleRover
Champion Author British Columbia

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Message Posted: Oct 11, 2013 9:49:29 PM

Sad :-(
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esq262
Champion Author Asheville

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Message Posted: Oct 11, 2013 9:45:20 PM

Shameful.
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cgrey8
Champion Author Atlanta

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Message Posted: Oct 11, 2013 9:18:12 PM

Maybe this is just me, but I'm kinda hoping nothing happens with this. If the gov't does as the article suggests and charge more for leases and royalties, what do you think that'll do to the price of gas? No way the oil companies are just going to eat that increase. Those hiked lease prices will be passed on to the rest of us.

So in essence, this article is trying to drum-up enthusiasm for people to agree/accept higher priced fuel in the name of more money to the gov't.

Whose on board with that? Anybody charged up to support this guy in his quest to get more money for the federal gov't at our expense? He might as well just said lets raise gas taxes. But he knows that won't fly. But pitting people against the evil oil companies under the guise that we'll make THEM pay, hoping you don't think that through further and realize if they pay, YOU pay them in higher gas prices.


[Edited by: cgrey8 at 10/11/2013 9:23:05 PM EST]
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amerk73
Champion Author Dallas

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Message Posted: Oct 11, 2013 9:07:42 PM

ok
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Vetteblu
Champion Author Denver

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Message Posted: Oct 11, 2013 8:51:46 PM

Start with Congress screwing up, then on from there.
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