John Kerry to Introduce Resolution Today to Fix “Royalty Relief Program” for Oil Companies

John Kerry announced this morning that he will introduce a resolution in the Senate today that highlights the need to fix the royalty relief program for oil companies. The NY Times reported today that, "The federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years."

It was made public today that the Bush administration will use the royalty relief program to allow oil companies to pump $65 billion worth of oil and natural gas from federal land over the next five years and waive any royalties to the government.

Below is a statement from Senator Kerry:

“It’s not America that’s addicted to oil, it’s the Bush Administration that’s addicted to oil. How else can you explain that buried in the President’s budget is one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years?

“Enough is enough. I will be introducing a Resolution in the Senate today which will put front and center the need to fix the royalty relief program.

“Big oil has gotten enough breaks from the Bush White House. It’s time American taxpayers got one now.”