Mineral Revenues: A More Systematic Evaluation of the Royalty-in-Kind Pilots Is Needed

United States. General Accounting Office.

United States. General Accounting Office.

关键词: Government accountability -- United States.;    natural resources and environment;    mineral revenues;    letter report;   

RP-ID  :  GAO-03-296
RP-ID  :  236821

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the General Accounting Office with an abstract that begins "In fiscal year 2001, the federal government collected $7.5 billion in royalties from the sale of oil and gas produced on federal lands. Although most oil and gas companies pay royalties in cash, the Department of the Interior's Minerals Management Service (MMS) has the option to take a percentage of the oil and gas produced and either transfer this percentage to other federal agencies or to sell this percentage itself--known as "taking royalties in kind." GAO reviewed the extent to which MMS has taken royalties in kind since 1995, the reasons for taking royalties in kind, and MMS's progress in implementing management control over its Royalty-in-Kind Program."