Excellent piece, from the Article... "...If you’re keeping score, we’re at about $6.1 trillion. That’s more than 60% of the current national debt of of $9.8 trillion — and I ignored any potential additional royalties from natural gas. I also haven’t considered potential oil from sands, oil and gas from North Dakota’s Bakken Formation, oil and gas from the Great Lakes, or oil and gas from other inevitable future discoveries.
Oh, and I forgot to tell you that, according to a spokesman for Congressman Peterson, the royalty rate for land-based extraction is typically much higher than 15% and that states also collect substantial royalties on top of what Uncle Sam gets. (I never expected this or I would have called on Tuesday.) Is anyone else besides me infuriated that for decades, while usually whining that taxes haven’t been high enough, both the executive and legislative branches of our supposedly “by the people, for the people” government have mostly done all they can to keep us from using and benefiting from our own resources?" On Sep 26, 12:01 pm, jgg1000a <[EMAIL PROTECTED]> wrote: > and that the the Democrat leadership does not wish to tap into > > http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-loc... --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
