Energy and Growth: Interior Department Has Stopped Trying To Raise Oil And Gas Royalty Rates, Say Government Auditors

Tuesday, December 17, 2013

Interior Department Has Stopped Trying To Raise Oil And Gas Royalty Rates, Say Government Auditors

CREDIT: AP Photo/James MacPhersonA report released Tuesday by the U.S. Government Accountability Office (GAO) found that the Department of the Interior has ?discontinued? an effort to increase the royalty rate that companies must pay to the government for extracting oil and gas from onshore public lands. The report also raises serious questions about whether taxpayers are receiving a fair return for the extraction of their natural resources. Curr ...