Investigative Report on the Lack of Price Thresholds in Gulf of Mexico Oil and Gas Leases

摘要

In March 2006, the U.S. Department of the Interior, Office of Inspector General opened an investigation to determine how the Mineral Management Service (MMS) omitted price threshold language from 1998 and 1999 Gulf of Mexico oil and gas leases. This language would have required oil and gas companies to pay royalties when oil and gas prices reached a certain level.