Mon
Jan 23 2006
12:13 pm

Quick recap since January of 2001:

Here we have an administration whose top first priorities included a blue-ribbon panel of energy industry executives at the White House, and much of the subject matter of this same meeting remains secret to this day.

Meanwhile, the state of California suffers through an inexplicable drought of electricity, one of the largest corporate scandals in global history engulfs a Fortune 50 energy trading company (which, coincidentally, has strong ties to the First Family and its presidential campaign), a Central Asian pipeline project zips along following the incursion to avenge the atrocities of 9/11, there's a phony baloney war started in the most oil-rich region of the world, the energy sector of the economy posts record profits in the wake of that war and after two devastating hurricanes seriously impact domestic production and distribution capacity.

Oh, and consumers in Tennessee have been whacked with tremendous gas bills, spiking at 30-50% increases year-over-year.

We're about caught up? OK. There is a punchline here somewhere.

(Remember, we're all in this together...)

Today's NYT outlines how the US government has been estimated to have given away nearly a billlion dollars in gas production royalties.

That's right -- $700 million in basic relief to gas companies has been made possible by US government officials agreeing to take revenue out of the US government's coffers.

You gotta wonder if maybe that gentleman's agreement was worked out on one of those "pages intentionally left blank" in the heavily-redacted stack of documents known to be associated with the Task Force which kicked off the first 100 days of the current administration.

It's the gift that keeps on taking.

R. Neal's picture

You gotta wonder if maybe

You gotta wonder if maybe that gentleman's agreement was worked out on one of those "pages intentionally left blank" in the heavily-redacted stack of documents known to be associated with the Task Force which kicked off the first 100 days of the current administration.

Ya think? This stuff is like a bad game of 3D Vulcan chess, except Spock would never be stupid or unethical enough to play.

And really, it isn't even that complicated. Government? Meet corporations. Corporation? Meet government protected and subsidized profits. Profits? Meet happy shareholders. Happy sharehoders and their fund managers and their employers and their clergy? Meet clueless voters. And thus the circle of life is complete.

It's all good!

Andy Axel's picture

Well, yes. Apparently I

Well, yes. Apparently I forgot to apply my "heavy sarcarsm inflection" tag.

There's an obvious running tally of giveaways to Big Oil & Gas, yet we are told, "nothing to see here."

The gas lease giveback is yet another example.

R. Neal's picture

Oh, I got your sarcasm loud

Oh, I got your sarcasm loud and clear. Good post.

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