How is it confiscation if an agreement is signed by all parties involved?
If drilling off the coast of CA means that residents should get a cut, then yes, I'm all for it. Call it what you want but if the oil companies agree to it, it's not confiscation.
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It's hard to discuss this with somebody who doesn't seem to know the difference between royalty schemes (everybody agrees) and taxes (confiscation).
Did you sign off on the government's' imposition of IRS confiscation of a % your earnings? I sure didn't.
And neither did the oil companies when Palin levied her extra tax on top of the existing taxes and royalties.
The Palin scheme is the Obama scheme. It stinks like those famous down-strean floating fish.