U.S. Overvalued Florida Land Rights, Report Says (Payoff to * Donor)

[RamboLiberal]

http://www.bloomberg.com/apps/news?pid=10000087&sid=aYXdjZxMorBQ

The U.S. Interior Department's inspector general concluded that the Bush administration offered in 2002 to overpay a prominent Florida family for oil and gas rights on Everglades land, according to people familiar with the matter.

In a report to the Senate Finance Committee to be made public today, Inspector General Earl Devaney says the department nearly tripled earlier estimates of the value of the mineral rights, the people said. The agreement wasn't completed and the people familiar with the situation said Devaney's findings would scuttle it.

President George W. Bush announced in May 2002 that the federal government would pay $120 million in cash plus an undetermined amount in tax deductions to prevent the Collier family's privately held Collier Resources Co. from drilling for oil and gas on 400,000 acres of land it owns in what he called ``critical parts of the Everglades.'' Two previous government assessments valued the rights between $5 million and $68 million.

The report says that Ann Klee, a Bush administration political appointee, led the effort to reach an agreement with the Collier family shortly after she was named in January 2001 to administer the transition at the Interior Department between presidential administrations.

[underpants]

1. Crony... .... ..... capitalism

:grr:

[notadmblnd]

6. The question someone should ask is

how much did they kick back to his re-election campaign?

[Supersedeas]

12. BINGO!!!

[cthrumatrix]

2. rename poltics to "mafia" so I don't get so upset anymore

[Robeson]

3. These guys are so crooked, they make Warren Harding's....

...administration look like the model of ethics...

There really is no accountability anymore.

[Horse with no Name]

4. They have a habit of doing that in Florida

One of Jeb's failed businesses was in a building in a certain area.
His business failed--so Bushco just increased the value for that area and Jeb was able to get out from under that nasty business at a profit.
I'm sorry I can't find the link as was just reciting this from memory--but that was the gist of it.

[Supersedeas]

19. Florida is Bush Country

[Rex]

5. I love the 'in cash' part!

So white trash!

[SpiralHawk]

7. Hey, isn't it about time for the Jacko verdict?

I'm afraid our very busy corporate media will be unable to PAY ANY FRIKKING ATTENTION WHATSOEVER to this extremely unfortunate set of happenstances having to do with MASSIVE BUSHCO ROT AND CORRUPTION.

but that's okay. The economy is doing splendidly according to Commander Cuckoo Banannas, and the corporate media can run lots of stories on that pResidential allegation (tell the folks at GM, and in the NC furniture factories).

And remember all you "journalists" out there, Big BushCo loves you.

[ewagner]

8. From Newsmeat:

Miles C. Collier of Collier Capitol $10,417 to RNC on 5/10/04

On the same date another contribution of over $4,000 to the RNC

Lots of money to Mel Martinez and Betty Castor as well as Connie Mack.

Nice invenstment huh?

[SteppingRazor]

9. Ancient history to those in South Florida who read the right papers:

This from the New Times Broward/Palm Beach in September of 2002. About 5,000 words, going into all the gory details:

http://www.newtimesbpb.com/issues/2002-09-12/news/feature.html


Full disclosure -- I was a New Times employee at the time, so I'm admittedly bragging about my own people :)

[blm]

10. Robber barons and their crony capitalists in power are STEALING OUR MONEY.

.

[Robeson]

11. You got it. Does the gilded age come to mind?.....

...:think:

[blindpig]

13. personally, I find the ownership of 400,000 acres by anyone obscene

That they should be able to fuck it up with impunity a double obscenity.

That they should do this despite its proximity to fragile, protected habitat a triple obscenity.

That the people should have to accept being blackmailed a quadruple obscenity.

That on top of this the blackmailers should get a huge bonus.........
ARRGH!!!

Excuse me, my head just exploded.

[TX-RAT]

14. They own the surface rights or the mineral rights?

[blindpig]

15. apparently mineral rights

which seems worse to me.

[TX-RAT]

16. which seems worse to me.

Why is that?

[blindpig]

17. the whole concept of subsurface rights disturbs me personally

The thought that I as a landowner might have my life and life's work obliterated by a piece of paper signed without much thought years ago reallt bothers me. I have only recently come to own a piece of land but have become attached to it with its flora and fauna. Guess it's an emotional thing.

Who came up with that idea anyway? Is it simply a means for the gov to raise more revenue or what?

In any case preservation of critical habitat, a public good, should always trump private gain.

[TX-RAT]

18. I as a landowner

Also a landowner, and own some minerals also. Strange thing is i own no minerals on my place (1920 acres). Bought this place over 25 yrs ago, with no minerals available. I started buying minerals about the same time, just picking up what we could afford. Several of those blocks, now have oil production on them, so it turned out to be good investments. I also have 22 wells total on my place, of which i collect nothing but damages and they keep the roads maintained ( thats a big thing when you have damn near 40 miles of caliche roads). Other than some equipment going in and out it's not too bad, have a good relationship with the mineral owner, and i also have been pumping those wells, since we bought it.

But i do understand the frustration of some owners when a company decides to drill on their property and theres nothing they can do about it. We've even had people stand at their cattle guards with shotguns trying to keep oil comps off their property.

[Democat]

20. This would be impeachable if it was Clinton

But it's Bush, so we won't hear anything about it again, even from Democrats.