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Mineral Revenues: Data Management Problems and Reliance on Self-Reported Data for Compliance Efforts Put MMS Royalty Collections at Risk
The Minerals Mgmt. Service (MMS) collected over $9

 
Our Price: $15.00
By Frank Rusco (au); Jeanette Franzel (au)
Year: 2008
Pages: 18
Binding Paperback

Product Code: 1437909787

Description
 
The Minerals Mgmt. Service (MMS) collected over $9 billion in oil and gas royalties in FY 2007. These royalties -- payments made to the fed. govít. for the right to produce oil and gas from fed. lands and waters -- represent one of the countryís largest non-tax sources of revenues. This report includes recommendations to strengthen the royalty collections program. This report determines: (1) whether there has been adequate assurance that fed. oil and gas are measured accurately; (2) whether MMSís royalty info. tech. system and royalty collection and verification processes provide sufficient assurance that all royalties are being collected; and (3) the extent to which MMSís compliance efforts provide an adequate check on industryís self-reported data.

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