Qdrop
05-19-2006, 12:23 PM
House Approves Measure to Renegotiate Oil Leases
The House voted 252 to 165 yesterday to pressure oil companies to renegotiate over 1,000 Gulf Coast drilling leases, intended to reverse the windfall $7 billion savings in royalties the companies were due over the next 5 years.
The royalty plan has come under scrutiny in recent months as gas prices have spiraled upwards, with many criticizing them as overkill for an industry already flush with profits.
85 election-minded Republicans sided with Democrats to pass the measure, over the strenuous objections of the House GOP leadership.
http://www.airamericaradio.com/node/2080
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this really won't do much.....but it makes me feel .2% better.
The House voted 252 to 165 yesterday to pressure oil companies to renegotiate over 1,000 Gulf Coast drilling leases, intended to reverse the windfall $7 billion savings in royalties the companies were due over the next 5 years.
The royalty plan has come under scrutiny in recent months as gas prices have spiraled upwards, with many criticizing them as overkill for an industry already flush with profits.
85 election-minded Republicans sided with Democrats to pass the measure, over the strenuous objections of the House GOP leadership.
http://www.airamericaradio.com/node/2080
-----------------
this really won't do much.....but it makes me feel .2% better.