Introduction Of the "Study Of Ways To Imporve The Accuracy Of The Collection Of Federal Oil, Condensate, And Natural Gas Royalties Act of 2006"

INTRODUCTION OF THE ``STUDY OF WAYS TO IMPROVE THE ACCURACY OF THE COLLECTION OF FEDERAL OIL, CONDENSATE, AND NATURAL GAS ROYALTIES ACT OF 2006'' -- (Extensions of Remarks - December 05, 2006)

* Mrs. MALONEY. Mr. Speaker, today I am introducing the ``Study of Ways To Improve the Accuracy of the Collection of Federal Oil, Condensate, and Natural Gas Royalties Act of 2006.'' I am pleased to be joined by Representatives Hinchey (D-NY), Grijalva (D-AZ), and Conyers (D-MI) in introducing this legislation. On May 7, 2006, the Washington Post reported allegations that American taxpayers are being shortchanged by oil and gas companies in the royalties that they are paying to the Federal Government (``Firms Harvesting Energy from Public Lands May Owe U.S.''). Jack Grynberg, a plaintiff in a false claims action against seventy-three energy and pipeline companies, was featured in the article. Based on his expertise, the legislation I am introducing asks the National Academy of Engineering to conduct a study regarding improving the accuracy of collection of royalties on production of oil, condensate, and natural gas under leases of both onshore and offshore Federal lands and onshore Indian lands.

* These valuable resources are owned by the American people, who should be fairly and accurately compensated. I believe that this study would prove invaluable in accomplishing this important goal and will tell us if there is a problem, including the extent of the problem, with the collection of royalties from Federal lands and Indian lands.

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