Report Says Oil Agency Ran Amok »
Posted By flyonthewallzz 9 months, 3 weeks ago in NewsGovernment officials in charge of collecting billions of dollars worth of royalties from oil and gas companies accepted gifts, steered contracts to favored clients and engaged in drug use and illicit sex with employees of the energy firms, federal investigators reported yesterday.
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flyonthewallzz
Born 1958:
Father, improving Husband, carpenter, workaholic, pacifist, jig maker, photographer. CAD draftsman.
FORMER: hitchhiker, apple picker, furniture mover, faculty brat, non-driver, self employed, vegetarian ...
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flyonthewallzz9 months, 3 weeks ago
We are the third largest producer of oil in the world:
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http://www.nationmaster.com/graph/ene_oil_pro-ener... -
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flyonthewallzz9 months, 3 weeks ago
Another 27% is produced Offshore.
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“In Fiscal Year 2007, MMS collected more than $7 billion from OCS leasing and
production, disbursing the revenue to coastal states, and the U.S. Treasury as directed by
various statutes.”
I think it is about a 50/50 split with the states, so I will call it $3.5 billion to the fed.
.PDF sorry
http://www.mms.gov/ooc/PDFs/MMSFastFactsJune.pdf -
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flyonthewallzz9 months, 3 weeks ago
“An MMS analysis of the 2007 program showed that of the US$63 million brought in by the program,”
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http://www.energycurrent.com/index.php?id=2=13004 -
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flyonthewallzz9 months, 3 weeks ago
“Fossil energy supply includes coal, oil, and natural gas production and accounted for $4.7 billion of the almost $6.6 billion in fiscal year 2003 resources for energy supply programs.“
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Not quite a wash, but close. If I took the time I am pretty sure I could find more stuff in our outlays that would bring our federal revenue from oil to close to zero.
How our federal energy spending looks:
Fossil fuels = $4,600,000,000
Renewable = $510,000,000
Alternative vehicles = $90,000,000
EPA environmental impact = $24,100,000
I might not have this right.
http://searching.gao.gov/cs.html?charset=iso-8859-... -
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flyonthewallzz9 months, 3 weeks ago
Sorry for the diatribe:
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But looking at the numbers it looks like the Iraqi government produced 2,130,000 bbl/day
And made $70 billion.
We produced 7,610,000 bbl/day more than half of it under federal leases.
Yet the Departments of Energy and the Interior cost us money.
I know my math here is a bit sloppy, but I think there is plenty of room for error. -
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flyonthewallzz9 months, 3 weeks ago
“WASHINGTON (AP) — New data on Iraq oil revenues suggests that country's government will reap an even larger than expected windfall this year — as much as $70 billion — according to the special U.S. auditor for Iraq.”
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http://www.usatoday.com/news/washington/2008-04-23... -
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lovemylibs9 months, 3 weeks ago
FTA:
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"Many employees identified in the report told investigators that they didn't think ethics rules applied to them because of their "unique" role in the agency and that they needed to socialize with industry representatives for "market intelligence," according to the report."
Ethics rules don't apply? Aren't there other ways to socialize to gather "market intelligence" than drug parties and drunken orgies?
It also said that the Interior Department was not allowed to conduct an audit but that one was pending. Hopefully this pending audit will be the catalyst to a long list of convictions.
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Lurch9 months, 3 weeks ago
It`s our oil till they buy a politician who will sell us out for a dime only to turn around and see the oil companies rip us off for a dollar.
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Lurch9 months, 3 weeks ago
The White House has announced that Henry Kissinger has been chosen to lead this very important audit.
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miklkit9 months, 3 weeks ago
This is chilling news. We are the third largest producer in the world and we get almost nothing from it. It looks like we are subsidizing big oil about as much as we are taxing them. And some people are having a real good time being entertained by the companies they are supposed to be regulating. Bring on the axe man!
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This is an example of why it is such a bad thing that McSame has 160 lobbyists working for him in his campaign. -
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Lurch9 months, 3 weeks ago
Sex, corruption, and oil.
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Any wonder **** Cheney`s Halliburton moved there HQ over there? -
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hefaa19 months, 3 weeks ago
"engaged in illicit sex with employees" When the repugs kept belching DRILL, DRILL, DRILL, I thought they meant oil exploration.
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flyonthewallzz9 months, 3 weeks ago
Hi Mikklit and Lurch:
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Under my old rules I would not have voted positive to you comments.
Well I hid under the bridge and did.
I think it would be fair for to talk about the gifts to the industry given by Carter and Clinton.
Carter had a big part in the Transatlantic Pipeline (TAPS) and the Strategic Petroleum Reserve (SPR)
Clinton was at the helm when the Royalty in Kind (RIK) and the Deep Water Royalty Relief Act (DWRRA)
ANWR would would not be on the table if it was not sitting at the top of TAPS.
The SPR has been used as a buffer to the industry when their Offshore rigs are shut down by storms.
RIK is a joke, we pay for the truck to get the oil and sell it, and then give the money to the dept. of energy to buy oil for the SPR from the folks that are drilling royalty free. Recently we where filling it with imported oil.
To lazy to look it up the link: but production in the gulf dropped dramatically after 1995 when the DWRRA began. DWRRA also opened up the freedom for the industry to export our oil,
This country has never exported as much oil as it does now.
I have no doubt that Republican Politicians share the blame.
But I think making it a partisan issue is a distraction.
I also do not think it is a stretch to look at the folks who are profiting the most.
In the last decade:
Privately held oil reserves in this country have increased (and if you count the SPR they have never been as large).
The potential production of the few remaining refineries has dropped.
My retirement account with Vangaurd has droopped in value significantly in spite of holding a huge percentage of Exxon stock as part of their portfolio.
Sometimes I just shake my head and wonder, it kind of seems obvious to me which direction to point my finger.-
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flyonthewallzz9 months, 3 weeks ago
Offshore Production:
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check what happened in 1995 when the Deep water royalty relief act began.
http://tonto.eia.doe.gov/dnav/pet/hist/m_epc0_fpf_...
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flyonthewallzz9 months, 3 weeks ago
Hi Mikklit and Lurch:
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Under my old rules I would not have voted positive to you comments.
Well I hid under the bridge and did.
I think it would be fair for to talk about the gifts to the industry given by Carter and Clinton.
Carter had a big part in the Transatlantic Pipeline (TAPS) and the Strategic Petroleum Reserve (SPR)
Clinton was at the helm when the Royalty in Kind (RIK) and the Deep Water Royalty Relief Act (DWRRA)
ANWR would would not be on the table if it was not sitting at the top of TAPS.
The SPR has been used as a buffer to the industry when their Offshore rigs are shut down by storms.
RIK is a joke, we pay for the truck to get the oil and sell it, and then give the money to the dept. of energy to buy oil for the SPR from the folks that are drilling royalty free. Recently we where filling it with imported oil.
To lazy to look it up the link: but production in the gulf dropped dramatically after 1995 when the DWRRA began. DWRRA also opened up the freedom for the industry to export our oil,
This country has never exported as much oil as it does now.
I have no doubt that Republican Politicians share the blame.
But I think making it a partisan issue is a distraction.
I also do not think it is a stretch to look at the folks who are profiting the most.
In the last decade:
Privately held oil reserves in this country have increased (and if you count the SPR they have never been as large).
The potential production of the few remaining refineries has dropped.
My retirement account with Vangaurd has droopped in value significantly in spite of holding a huge percentage of Exxon stock as part of their portfolio.
Sometimes I just shake my head and wonder, it kind of seems obvious to me which direction to point my finger. -
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Mdiar9 months, 3 weeks ago
I figured I'd pop in and say hi.
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It should be obvious, even to the most casual of observers, that we have alot of pork in our government that both parties fight fervently to keep in place, though not always the same pork.
I don't think many people know how much oil the United States produces. We still have alot, actually, if we include the shale oil. We are the third largest producer and I've always felt so much of it is on federal land, that the government should profit directly from this oil and use that to ease the tax burden on small businesses. Perhaps shunt some of it towards higher education, as well.
I have a few ideas that would help this country along, I believe, policy wise. Unfortunately, Congress is essentially controlled by special interests.
Lately, I've been rather upset that this country's population doesn't appear to fact-check anything either candidate appears to say. I've decided to visit this site, to an extent, even less then usual.-
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flyonthewallzz9 months, 3 weeks ago
Thanks for stopping by Mdiar.
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I hope you do take the time to come back more.
Facts often do turn a verbal dagger into a garden impliment.
Even without a Hot forge.
Being polite often buries the tomahok.
Perhaps the furrow in common ground can bear fruit?
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