As if we need more data to support the obvious:
The wrong people are in Charge, here!
NY Times on the recent energy boom which, doesn’t trickle down to consumers, and the Bushovik policies that rob the government of proceeds in this time of record defecits.
If royalty payments in fiscal 2005 for natural gas had risen in step with market prices, the government would have received about $700 million more than it actually did, a three-month investigation by The New York Times has found.
But an often byzantine set of federal regulations, largely shaped and fiercely defended by the energy industry itself, allowed companies producing natural gas to provide the Interior Department with much lower sale prices - the crucial determinant for calculating government royalties - than they reported to their shareholders.
As a result, the nation’s taxpayers, collectively, the biggest owner of American oil and gas reserves, have missed much of the recent energy bonanza.
When the banks forclose on our great nation, we’ll all need to learn Chinese.
Pouncing Tiger, Cringing President…