Read this story from the New York Times.
This story really shows how bush still has the country and the taxpayer bend over for the oil and gas industry. Sadly, it doesn't just affect the Federal Taxpayer
it also affect payments to the states that have natural gas production. Mark New Mexico as a big time looser in this give away to an industry that has record breaking profits. I know that Governor Richardson and his financial people will be asking a lot of questions today and rightly so. That lost money would buy a lot of school supplies.
In my first term as Land Commissioner I created an oil and gas royalty audit department in the State Land Office. Prior to that the Land Commissioners just 'trusted' the oil and gas industry. We immediately started finding millions of dollars in underpaid royalties and those audit teams under following administrations have continued this work.
it also affect payments to the states that have natural gas production. Mark New Mexico as a big time looser in this give away to an industry that has record breaking profits. I know that Governor Richardson and his financial people will be asking a lot of questions today and rightly so. That lost money would buy a lot of school supplies.In my first term as Land Commissioner I created an oil and gas royalty audit department in the State Land Office. Prior to that the Land Commissioners just 'trusted' the oil and gas industry. We immediately started finding millions of dollars in underpaid royalties and those audit teams under following administrations have continued this work.
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