Interior raises royalty rate for offshore drilling

Wednesday, January 10, 2007  

The Interior Department raised the royalty rates on off-shore drilling in hopes of generating $4.5 billion over 20 years.

The move came as Democrats prepare to roll back royalty incentives and tax breaks for the energy industry. Government reports have said the American public stands to lose upwards of $10 billion due to the incentives.

Separately, President Bush lifted a moratorium on drilling in the Bristol Bay of Alaska.

Get the Story:
U.S. to Raise Royalty Rates for Oil and Gas Leases in the Gulf (The New York Times 1/10)
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Bush Lifts Oil-Drill Ban in Alaska's Bristol Bay (The Washington Post 1/10)
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aInspector General Report:
Minerals Management Service's Compliance Review Process (December 2006)

GAO Letter:
Suggested Areas for Oversight for the 110th Congress (November 17, 2006)

Inspector General Testimony:
Devaney Interior Department: A Culture of Managerial Irresponsibility and Lack of Accountability? (September 2006)

Inspector General Report:
Allegations Concerning Senior Officials of the Office of Special Trustee for American Indians (May 2005)

Relevant Links:
Government Accountability Office:
Office of Special Trustee - http://www.ost.doi.gov

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