The Bush administration has confirmed that the government will waive about $7 billion in oil industry royalties over the next five years even though the industry incentive program being applied was expressly conceived of for times when energy prices are low.
This outrage prompted Rep. Edward J. Markey, a Massachusetts Democrat who tried to block the program, to opine:
Taxpayers are being asked to provide huge subsidies to oil companies to produce oil . . . it's like subsidizing a fish to swim.