Uncle Sam And Oil

Courtesy Digg - Business & Finance  Thu, 06/19/2008 - 18:41

The U.S. Interior Department's royalty rate for deep-water drilling in the Gulf of Mexico is 18.75%-up from 12.5% two years ago.This move helped the government take in $7 billion in offshore royalties, rents and bonuses from oil companies drilling in U.S. waters last year.The government's take would undoubtedly increase......

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