Oil valuation controversyPatrick Crow's July 5, 1999, Watching Government column claimed that the "POGO controversyellipsewas miring the U.S. Minerals Management Service's effort to promulgate a controversial oil royalty reform regulation" (OGJ, July 5, 1999, p. 34). Mr. Crow knows, however, that MMS's rule, designed to eliminate the phony "posted price" system, has in fact been mired for years. Big Oil's advocates have grasped at every straw along the way to avoid paying what they owe.America's major oil-producing states (Alaska, Texas, California, Louisiana, New Mexico, and Oklahoma) agree that market prices should determine royalties and have gone on record supporti...

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