Interior won't seek to recover billions in royalties
Friday, September 22, 2006
The Bush administration won't try to recover billions on lost royalties, a top Interior Department official said.
The American public stands to lose out on up to $10 billion in royalties for oil and gas drilling on federal land. But Johnnie M. Burton, the director of the Minerals Management Service, said energy companies don't have much incentive to renegotiate their deals.
Some companies have agreed to discuss changing their leases. But the vast majority haven't responded to a request to negotiate.
The leases have already resulted in the loss of $1.3 billion in royalties.
Get the Story:
Interior Official Says She Will Not Try to Recoup Lease Money
(The New York Times 9/22)
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