The New York Times is reporting of what it calls “one of the biggest giveaways of oil and gas in American history.” Under a Congressional measure enacted ten years ago to encourage drilling, energy companies will be allowed to extract about $65 billion worth of oil and natural gas from federal land over the next five years without paying taxpayers any royalties. According to the Times, the government will give up over $7 billion ” in lost royalties over the next five years.