It used to be that when one went into business, there were certain financial risks inherent with any operation. Not any more. AP reports, "a provision in a House-passed energy bill would require federal compensation to private companies for costs associated with oil and gas leases that can't be developed." Specifically, the provision states that "if a permit denial or some other government action prevents a lease from being explored or developed," taxpayers will be responsible for forking over billions to the oil companies to "compensate" them. This comes at a time when oil industry executives are awash in so much cash from soaring gas prices that they literally don't know "how to spend the windfall."
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The Republicans View of Welfare
- Thread starter seagull
- Start date
CaptainXeroid
Following Christ
From the article
Other than inopportune timing for the measure, IMHO the information in the links provided do not support the title 'The Republicans View of Welfare'.
Now, if you can provide evidence that the companies did not pay for the leases and that this is little more than a 'raid on the Treasury', I'll change my mind.:jiggy:
I'm no fan of 'corporate welfare', but on the surface this seems to be little more than a 'buy-back' program for the government to refund monies that companies paid for an off-shore oil drilling leases which are now worthless.
Other than inopportune timing for the measure, IMHO the information in the links provided do not support the title 'The Republicans View of Welfare'.
Now, if you can provide evidence that the companies did not pay for the leases and that this is little more than a 'raid on the Treasury', I'll change my mind.:jiggy: