Hallelujah: The Wall Street Journal reports that Rep. Nick Rahall (D-WV) has asked the Obama Administration to seek royalty payments owed to taxpayers for the oil spewing into the Gulf.
Rep. Nick J. Rahall II (D., W. Va.), chairman of the House Natural Resources Committee, asked Attorney General Eric Holder in a letter Thursday to take "whatever legal action might be necessary to recoup these damages on behalf of the American public."
POGO Executive Director Danielle Brian had this to say in response:
"POGO applauds Representative Rahall for holding BP accountable for royalties lost from the oil leaking into the Gulf. We're glad someone is standing up to big oil on behalf of the taxpayers. In addition to the environmental and economic devastation caused by this tragedy, one of the largest sources of revenue for the federal government is being lost."
WSJ goes on to note that the exact figure for royalties owed is unclear. But the article does reveal that under the terms of BP's lease with the Minerals Management Service, the royalty rate would be 18.75%—a few ticks north of the rate we used in our previous rough estimates.
-- Bryan Rahija
See also:
- The Amount of Royalties Taxpayers Have Lost in the Gulf Oil Spill
- BP is Liable for Royalty Payments in Deepwater Horizon Spill
- Find more background on POGO's MMS / oil spill page
Disaster. Very sad.
Obama says ready to "kick ass" over Gulf oil spill
Perhaps, now is too late...
http://www.viewheadlines.com/News/Article.aspx?i=7546
Posted by: Marija | Jun 08, 2010 at 02:18 PM
Since we have a large energy crunch, we in the US should be instituting greater nationwide rail and inter- and intra-city monorail in order to reduce our dependence on foreign oil. ron
Posted by: Ron Pearson | Jun 06, 2010 at 11:28 PM