Senators Question Bush Over Oil Lease Royalties

Law360, New York (November 5, 2007, 12:00 AM EST) -- Dozens of U.S. senators will ask President Bush on Tuesday to address a federal court decision which could cost the U.S. Department of the Interior billions of dollars in lost royalties on oil and natural gas leases in the Gulf of Mexico.

Sen. Jeff Bingaman (D-NM) has been circulating a sign-on letter among Senators which asks President Bush about his plans regarding royalty waivers. A Louisiana federal judge ruled that the DOI could not impose price thresholds that would require Anadarko Corp. and unit Kerr-McGee Oil...
To view the full article, register now.