Democrats to target oil companies' royalties

| Wednesday, November 22, 2006

Congressional Democrats say that once leadership power is handed over to them, they'll go after the multi-billion-dollar royalties that the big oil companies have escaped paying in recent years.

According to The Associated Press, the oil companies may have dodged as much as $10 billion in federal royalties because of a supposed typographical error on the lease agreements.

The Democrats hope to re-negotiate those leases, and also hope to pass a federal price gouging law, The AP reported.

 

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