Oil companies that posted record profits last year received $2 (B) billion dollars out of a now nearly-bankrupt fund set up to entice businesses to return to the Gulf Coast.
The US Congress designated billions of dollars in tax-free bond for ‘Gulf Opportunity Zones,’ known as ‘GO Zones.’ There was supposed to be a cap on the total amount businesses could receive, but Marathon Oil Corporation and US TransCarbon LLC each got $1 (B) billion dollars to expand their oil refineries.
Earthbeat host Daphne Wysham speaks to Eliza Strickland, the author of a the CorpWatch report investigating who’s really benefiting from the Hurricane Katrina rebuilding effort.
New York Times bestselling author Greg Palast joins Earthbeat to discuss the fraud, corruption and disdain he’s uncovered by the Bush Administration for helping people return to New Orleans. Palast is the author of Armed Madhouse.
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Go here to hear Earthbeat’s previous coverage on Hurricane Katrinia.
Photo copyright 2005 Michael Pettit
Our theme music is Baladi by Tony Anka, Bellydance Superstars vol. 2.