Federal Oil and Gas Management: Opportunities Exist to Improve Oversight

Download or read book Federal Oil and Gas Management: Opportunities Exist to Improve Oversight written by Frank Rusco and published by DIANE Publishing. This book was released on 2010-06 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: In FY 2008, the Dept. of the Interior collected over $22 billion in royalties and other fees related to oil and gas. Within Interior, the Bureau of Land Mgmt. manages onshore fed. oil and gas leases, and the Minerals Mgmt. Service¿s (MMS) manages offshore leases. A fed. lease gives the lessee rights to explore for and develop the lease¿s oil and gas resources. MMS is responsible for collecting royalties for oil and gas produced from both onshore and offshore leases. This report focus on Interior¿s: (1) policies for oil and gas leasing; (2) oversight of oil and gas production; (3) royalty regime and policies to boost oil and gas development; (4) oil and gas information technology systems; and (5) royalty-in-kind program. Charts and tables.