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Keyword: oilscam

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  • Govt. Eyes Error That Cost U.S. Billions

    03/02/2006 11:29:07 AM PST · by soccer_maniac · 100 replies · 1,749+ views
    AP via Yahoo News ^ | March 2, 2006 | H. JOSEF HEBERT
    WASHINGTON - How it happened or who's responsible is a mystery eight years after the fact. But what may have been a simple error — or perhaps something more ominous — has given a multimillion-dollar windfall to a group of oil and gas companies and could cost the government billions of dollars more in the years to come. The Interior Department disclosed Wednesday that a provision was mysteriously deleted from hundreds of federal drilling leases in the late 1990s that would have required producers to pay royalties, once prices reached a certain level, on oil or gas taken from deep...