Monday, January 14, 2008

Why Big Oil Loves John McCain: Billions and Billions

Two peas in the oil pod

Big Oil loves John McCain 'cause he's sandbagged the Abramoff investigation that would have led to Big Oil having to pay the American Indians for the oil & gas leases they've been stealing for decades:

[Here's] the summary Lambert did over at the Mighty Corrente Building:

Wampum [Want the background? Read all at Abramoff & the Injuns at Wampum - truth] owns this story, and Mary Beth summarizes the detail. But I can’t understand a story that is longer than what you can write on a postcard, so I’m going to try to summarize the story this way:

1. The Department of the Interior leases Indian lands to the oil companies.

2. The oil companies are supposed to pay royalties on the oil they drill to the Indians who own the land.

3. The royalties add up to $100 billion (one hundred billion) dollars.

4. The Department of the Interior and the oil companies screwed up the accounting, and didn’t pay the Indians what they owed them.

5. The courts have agreed with the Indians, so the oil companies are on the hook for $100 billion.

6. Enter Saint John Sidney McCain (R-Torture Enablement), who is chair of the Senate Interior Commmittee.

7. McCain is pushing a settlement that will give the Indians 10 cents on the dollar.

8. McCain will thereby gain the undying gratitude of the oil companies, who will waltz off with $100 billion gross — the net to be determined by how much in campaign contributions goes to John Sidney McCain.

hat tip to Suburban Guerrilla

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