Send a Tweet
Most Popular Choices
Share on Facebook 8 Share on Twitter Printer Friendly Page More Sharing
General News    H3'ed 10/25/19

Government Loophole Gave Oil Companies $18 Billion Windfall

Quicklink Submitted By     (# of views)   1 comment, 7 series
Author 40790
Follow Me on Twitter     Message Susan Lee Schwartz
Become a Fan
  (23 fans)

'The US government has lost billions of dollars of oil & gas revenue to fossil-fuel companies because of a loophole in a decades-old law-- the first detailed accounting of the consequences of a misstep by lawmakers that is expected to continue costing taxpayers for decades to come. The loophole dates from an effort in 1995 to encourage drilling in the Gulf of Mexico by offering oil companies a temporary break from paying royalties on the oil produced. However, the rule was poorly written, the very politicians who originally championed it have acknowledged, and the temporary reprieve was accidentally made permanent on some wells.'

Read the rest of the story HERE:

At www.nytimes.com

 

Rate It | View Ratings

Susan Lee Schwartz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Other Series: View All 726 Articles in "Shameful"

Other Series: View All 453 Articles in "Trump"

Other Series: View All 169 Articles in "UTTER CONTEMPT"

Other Series: View All 479 Articles in "wrecking Ball"

Comments

The time limit for entering new comments on this quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

1 people are discussing this page, with 1 comments


Susan Lee Schwartz

Become a Fan
Author 40790
(Member since Oct 25, 2009), 23 fans, 18 articles, 4131 quicklinks, 7600 comments, 2 diaries
Facebook page url on login Profile not filled in Twitter page url on login Profile not filled in Linkedin page url on login Profile not filled in Instagram page url on login Profile not filled in

  New Content

and the tax bill gave the riches folks 1.5 trillion f rom the budget...and then the GOP screams 'small government' ...well not anymore... ow they spend money like a drunken sailor.. and none of it builds bridges, sounds schools or health care.

Submitted on Friday, Oct 25, 2019 at 3:47:45 PM

Author 0
Add New Comment
Reply To This   Recommend  (0+)
Help

 
Want to post your own comment on this Quicklink? Post Comment