Rep. Darrell Issa (R-CA) on Tuesday introduced legislation that would bar federal court review of lawsuits that he estimates could deprive the federal government of billions of dollars in royalties.
Deprive
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GAO Says Royalty Relief to Cost At Least $20B, and Much More if Producer Wins Lawsuit
Federal measures exempting oil and natural gas producers active in the prodigious Gulf of Mexico from royalties could deprive the U.S. Treasury of a minimum $20 billion in lost revenues over the next two decades or more, according to information contained in a preliminary government report that was obtained by the New York Times.
March 30, 2006
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