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Katie Porter: “Fossil fuel companies have a long history of taking…”

Featuring: Katie Porter, Democratic | Former Candidate, U.S. Senate California

Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies

Published September 21, 2021 | Video Starts at 01:04

Can you talk about what that means? What is a subsidy? What are we talking about? And why does it matter for how the oil industry, the gas industry, function? Yep. So Fossil fuel companies have a long history of taking advantage of the tax code, taking advantage of taxpayers. and frankly, buying and selling influence in Washington to get policies that benefit them at the expense of both our planet and the rest of us. (01:04–01:11)

CLAIM

Asserts that fossil fuel companies exploit the tax code and taxpayers.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Katie Porter

“They actually took billions of dollars in Covid related money, and then rather than actually use that money to pay their workers... they…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 01:25-01:46
“The royalty rate has not changed in 100 years.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 09:29-09:35
“The United States charges way less to drill on its public lands than other countries.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 22:20-22:26
“It's more expensive to drill on land owned by the state of Texas than it is federal public land.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 22:28-22:39
“Public land simply refers broadly to any land that is owned by the federal, state, or local government.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 02:29-02:37
“The largest proportion of [public land] is controlled by the Bureau of Land Management.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 03:02-03:07
“Federal government policy here really matters. It matters in terms of conservation. It matters in terms of shaping the entire energy.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 04:31-04:40
“The Biden administration paused Granting new rights. But that didn't mean that the previous big bunch of rights that the Trump…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 05:28-05:43
“The rental rate has not been changed since I was in, I think junior high school. The royalty rate, I think it has not been changed in like…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 06:46-06:58
“Oil and gas companies, if they receive permits, are paying a bonding requirement.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 07:02-07:09
“Bonding requirements are too low.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 07:19-07:23
“Oil and gas companies set up entity after entity, corporate shells in essence, to [conduct] oil and gas drilling.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 07:22-07:32
“When they're done, those entities declare bankrupt and walk away and the taxpayers wind up on the hook for abandoned wells.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 07:32-07:40
“The US Government is giving away a bargain basement deal to fossil fuel companies who want to drill and extract on public lands.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 09:49-09:59
“States like Texas charge much higher royalty rate to extract from their state lands than the federal government does for extraction from…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 09:59-10:13
“Oil and gas companies are leaving the rest of us holding the bag to clean up their messes [from abandoned wells].”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 12:09-12:17
“Bonding requirements are so low that it doesn't even begin to cover the cost of capping the well, of doing the environmental remediation, of…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 13:47-13:58
“The federal government picks up the tab and does the work, we put it onto the states.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 14:16-14:23
“Biden's 30 by 30 commitment... 30% would not be available for extractive industries, would not be available for oil and gas.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 16:18-16:30
“We cannot allow this pace of continued drilling and meet our commitment to conservation and preservation and climate change goals.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 16:38-16:48
“Public land drilling is one of the tools that we can use to create a more sustainable energy future.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 17:01-17:08
“It's called the ending taxpayer welfare for oil and gas companies. And what it would essentially do is update that royalty and rental rate…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 17:37-17:48
“We can collect our fair share from the companies that are making money off our public lands.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 18:21-18:28
“Oil and gas companies have bought legislation that works for them.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 19:39-19:45
“Oil and gas companies went to Congress and year after year after year advocated to keep this royalty rate unchanged.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 19:49-19:58
“In the House, there is not one Republican who has stepped up and been willing to say that taxpayers should get their fair share for…”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 23:11-23:21
“Oil and gas companies get away with [cheating everyday Americans] due to political influence.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 23:32-23:52
“Three oil and gas companies declined to testify before the subcommittee I chair on natural resources.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 27:30-27:34
“The biggest check and balance in a democracy is the voices of the American people speaking up, asking questions and getting answers.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 28:56-29:06
“All of that [complexity and delay] isn't coincidental. It is part of a strategy to avoid accountability.”
Katie Porter Discusses Oil and Gas Industry Accountability and Public Land Policies | Uploaded September 21, 2021 | 29:13-29:22