Accountability

One day after the House Agriculture Committee approved HR 977, the Derivatives Markets Transparency and Accountability Act of 2009, Global commodities exchange CME Group on Friday bashed the legislation, saying it would drive “a significant portion” of over-the-counter (OTC) trading offshore and outside of the U.S. government’s jurisdiction.

The Government Accountability Office (GAO) has expressed concern that the Department of Energy (DOE) may be conducting research and development (R&D) in oil and natural gas that the industry itself should be funding, without government help.

The Government Accountability Office (GAO) has expressed concern that the Department of Energy (DOE) may be conducting research and development (R&D) in oil and natural gas that the industry itself should be funding, without government help.

The Government Accountability Office (GAO), the investigative arm of Congress, is looking into the way the Bureau of Land Management (BLM) may have bypassed some environmental reviews to issue oil and natural gas drilling permits across the West. One particular area of GAO’s inquiry involves how some natural gas drilling permits were issued to Bill Barrett Corp. in the environmentally sensitive Nine Mile Canyon area of Utah, officials said.

The Government Accountability Office (GAO), the investigative arm of Congress, is looking into the way the Bureau of Land Management (BLM) may have bypassed some environmental reviews to issue oil and natural gas drilling permits across the West. One particular area of GAO’s inquiry involves how some natural gas drilling permits were issued to Bill Barrett Corp. in the environmentally sensitive Nine Mile Canyon area of Utah, officials said.

Noting that the U.S. government’s “take” of revenues from oil and natural gas production is one of the lowest in the world, the Government Accountability Office (GAO) in a new report has recommended that Congress direct the Interior Department to undertake a broad review of its federal oil and gas fiscal system to determine whether it is collecting an appropriate share of royalties from producers.

Noting that the U.S. government’s “take” of revenues from oil and natural gas production is one of the lowest in the world, the Government Accountability Office (GAO) in a new report has recommended that Congress direct the Interior Department to undertake a broad review of its federal oil and gas fiscal system to determine whether it is collecting an appropriate share of royalties from producers.

With crude oil prices exceeding $130 a barrel and natural gas prices nearing $12.50/Mcf, the Government Accountability Office (GAO) now says the federal government could be out as much as $54 billion in revenues — far more than was previously estimated — as a result of the faulty 1998-1999 deepwater leases and the court challenge by Kerr-McGee Oil and Gas, now part of Anadarko Petroleum, if upheld on appeal.

With crude oil prices exceeding $130 a barrel and natural gas prices nearing $12.50/Mcf, the Government Accountability Office (GAO) now says the federal government could be out as much as $54 billion in revenues — far more than was previously estimated — as a result of the faulty 1998-1999 deepwater leases and the court challenge by Kerr-McGee Oil and Gas, now part of Anadarko Petroleum, if upheld on appeal.