NYT: Government Accountability Office to Investigate Oil Royalties

[DeepModem Mom]

U.S. Agency to Review Oil Royalties
By EDMUND L. ANDREWS
Published: November 2, 2006

WASHINGTON, Nov. 1 — The Government Accountability Office, the watchdog agency for Congress, is beginning a broad investigation into potential deficiencies in how the government collects billions of dollars in royalties from companies that produce oil and gas on federal territory. The inquiry is being done at the request of the Republican-led House Government Reform Committee.

In announcing the investigation, Republican lawmakers said they had worries about the management of the entire royalty program by the Interior Department, including its regulations and enforcement practices and the accuracy of basic information....

The investigation reflects a growing anger in Congress about the Interior Department’s vast oil and gas leasing program, under which the government collects as much as $10 billion a year on oil and gas produced on federal land and in federal waters.

The Minerals Management Service of the Interior Department, which oversees royalty collections, has come under growing criticism from lawmakers in both parties for losing track of billions of dollars in royalties....

Four auditors responsible for scrutinizing royalties recently contended that their superiors blocked them from challenging millions of dollars in deliberate underpayments....

http://www.nytimes.com/2006/11/02/business/02royalties.html

[BR_Parkway]

1. Hmm, Republicans request investigation? Interior dept? Ambrohoff's

personal playground of corruption?

Makes you wonder what news is about to break next...

[goforit]

2. Yes," investigate yourself" just doesn't hold water.

[dmosh42]

3. trying to hide the tracks!

Now that it looks like new committee chairmen, all these Repubs are going to try to make it look like they tried to keep everything above board. They will never run out of things to investigate after these crooks!