Sens. Dianne Feinstein and Jeff Bingaman, who both represent energy-producing states, say worries over a possible lawsuit from the oil industry have led them to consider other alternatives, including an industry-supported plan that would offer three-year lease extensions to companies that agree to begin paying royalties.
There is no disputing Senator Dianne Feinstein (D)- CA has significantly profited financially with Multi-million dollar contracts thanks to her husband Richard Blum
As chairperson and ranking member of the Military Construction Appropriations subcommittee (MILCON) from 2001 through the end of 2005, Feinstein supervised the appropriation of billions of dollars a year for specific military construction projects. Two defense contractors whose interests were largely controlled by her husband, financier Richard C. Blum, benefited from decisions made by Feinstein as leader of this powerful subcommittee.
http://www.metroactive.com/...
Now it is apparent the lobbying money invested in both Feinstein and Bingaman are paying dividends. Bingaman was the top recipient of oil and gas contributions among Senate Democrats in 2001-06, raising $115,484, according to figures from the Center for Responsive Politics, a non-partisan group that tracks campaign money.
At issue is a foul-up that happened under President Clinton and was compounded by inaction during the Bush administration. A price cap was left out of offshore drilling leases negotiated in 1998 and 1999, and the missing language allowed the companies to avoid royalties when oil prices spiked.
Inspector General Earl Devaney concluded that the omission was inadvertent, but in January, he faulted what he called the "shockingly cavalier" response when top Interior officials became aware of it in 2004.
If it remains uncorrected, the mistake is slated to cost taxpayers $10 billion. The government so far has lost at least $1 billion, according to the Government Accountability Office. No proposal would recover that money, because royalties can't be imposed retroactively.
http://www.usatoday.com/...
Senator Feinstein is my Senator and I personally find it repugnant she is so ethiclly challenged by caving into the most profitable companies in the world. These are revenues that would directly go into our schools, medicaire, communities and treasury.
Perhaps Dianne Feinstein could asnwer why she believes the oil companies need to keep the taxpayers revenue?
UPDATE: Response
Thank you for writing. I have not done many of these and was away from my desk. I would not have written this had I thought I would be attacked. I demand our Dem leadership to be EXTRA ethical and we should have the right to call them on questionable decisions.
Please answer if you think it smells funny, is she being influenced? That is my concern.
Thank you for your input