GAO evaluates Interior efforts to improve oil, gas fiscal system

01/06/2014
The US Department of the Interior has taken important steps to help ensure a fair return on federal oil and gas resources, but does not have documented procedures to periodically review its fiscal system, the Government Accountability Office said in a report released Dec. 17. GAO noted that while Interior recently contracted for such an assessment, it was the first in well over 25 years. "Without documented procedures, [Interior] will not have reasonable assurance that it will consistently conduct such assessments in the future," the report said. "Without periodically conducting such assessments, [it] cannot know whether there is a proper balance between the attractiveness ...
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