Anadarko Wins Court Fight Over Gulf Royalties.
WASHINGTON — The Supreme Court on Monday let stand a ruling that the Obama administration says could block the federal government from collecting as much as $19 billion in royalties from energy companies that are drilling in the Gulf of Mexico's deep waters.
The justices declined to hear the government's appeal of a Jan. 12 decision by the 5th U.S. Circuit Court of Appeals that Anadarko Petroleum Corp. does not owe the Interior Department at least $350 million in royalties for production beginning in 2002.
Rep. Ed Markey, D-Mass., said the decision means “the oil industry now stands to see a geyser of tens of billions of dollars in windfall profits at the expense of American taxpayers.”
Markey added: “This lawsuit means that oil companies can drill here, drill now and pay never.”
http://www.chron.com/disp/story.mpl/nation/6653913.html
The justices declined to hear the government's appeal of a Jan. 12 decision by the 5th U.S. Circuit Court of Appeals that Anadarko Petroleum Corp. does not owe the Interior Department at least $350 million in royalties for production beginning in 2002.
Rep. Ed Markey, D-Mass., said the decision means “the oil industry now stands to see a geyser of tens of billions of dollars in windfall profits at the expense of American taxpayers.”
Markey added: “This lawsuit means that oil companies can drill here, drill now and pay never.”
http://www.chron.com/disp/story.mpl/nation/6653913.html
Views: 39
Replies to This Discussion
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Permalink Reply by Grillin' - MmmMmm on
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Ed Markey, what a chowder head! What this means is Contract Law is Contract LAW! That doofus thinks that we should sign contracts and then change them when we decide it suits us better! Kind of like Hugo Chavez down in Venezuela. So, Mr. Markey, move down to Caracas and joing your buddy Hugo!
But no, these guys think they can re-write law even after contracts are signed! Kind of like they did when they screwed the GM and Chrysler bond holders. Instead of the normal bankruptcy process whereby bond holders got an early call on assets, this government decided to bypass the bond holders, the ones who put up money, and gave the majority of the value to the freaking unions. AAAARRRRRRGGGGGGHHHHHHH.
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Permalink Reply by Pipeliner on
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I do like the term "Drill Here, Drill Now, Pay Never".
The government wrote the terms on royalties so they need to be bound by what they put in the leases.
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Permalink Reply by intrepid on -
I would hope this would change the obama administration's view of O&G exploration being beneficial to the economy but it probably won't. I put nothing past the obama administration to try to take anything they think they can get away with from the American public.
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Permalink Reply by The_Baron on
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God Bless America.
Good to hear that the Feds have to abide by their leases just like the rest of us.
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Permalink Reply by Spring Branch,mineral owner on
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Doesn't it just gall you that the Federal Government has to follow the law like everyone else?
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Permalink Reply by Grillin' - MmmMmm on
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Yeah. Now if we could get the individuals in the Fed Gov't to follow the law or at least be held accountable for not following...like the Cabinet member who "forgot" to pay his taxes for many years. His penalty, promotion to Treasury Secretary!!! Or that certain Representative who owns property in various locations and rents it out, but fails to claim any of that revenue on his taxes. Just kind of forgot!!
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