Morning Smoke: How Can We Calculate Royalties Owed if We Don't Know How Much Oil Was Spilled?

Majority of spilled oil in Gulf of Mexico unaccounted for in government data by David A. Fahrenthold and Leslie Tamura [The Washington Post]

SEC Says New Financial Regulation Law Exempts it From Public Disclosure by Dunstan Prial [FOX Business]

Criminal probe of oil spill to focus on 3 firms and their ties to regulators by Jerry Markon [The Washington Post]

Mixed messages on possible F-35 funding cut? by Stephen Trimble [The DEW Line]

GOP appointees to oversight panel praise Elizabeth Warren's work by Brady Dennis [Political Economy]

Orszag: Agencies often spend ‘not out of need, but out of inertia' by Sean Reilly [Federal Times]

Petraeus: Fight ‘With Discipline,’ Contract With Care by Spencer Ackerman [Danger Room]

House takes hard line on Humvees by Jen DiMascio [Politico]

Can the Secrecy System Be Fixed? by Steven Aftergood  [Secrecy News]

NNSA sticks to UPF cost range -- for now by Frank Munger [Atomic City Underground]

SEC puts reform refight off-limits by Fred Barbash [Politico]

Fannie Mae, Freddie Mac Still Too Big to Nail by Jonathan Weil [Bloomberg]

Fallen Soldiers' Families Denied Cash as Insurers Profit by David Evans [Bloomberg]

Can Whistleblowers Be Protected? by Steven Aftergood  [Secrecy News]