Can the United States Increase Oil Royalties Hearing Before the Subcommittee

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Can the United States Increase Oil Royalties Hearing Before the Subcommittee
Information United States Congress House Committee On Gover
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I wasn't at the Department of Interior in 1988. I am afraid I won't be able to answer your question com- pletely. What I know about the regulations that were put into place in 1988 is that they were discussed for a series of many years with 39 all interested parties at the table; that at the time the regulations were changed from a more general regulation to the one that is in existence now that there had been concerns raised much as this concern has been raised by the clarity of valuation, and... the pur- pose at that time was to clarify.
Mrs. Maloney. A commonsense answer. After reading all the prior reports that it was wrong, that it was undervalued, the court cases substantiating it, don't you agree on a personal level, on a commonsense level that we shouldn't use posted prices? All evi- dence points to that.
Ms. QUARTERMAN. We have determined that.
Mrs. Maloney. You will not use posted prices?
Ms. QuARTERMAN. Only to the extent we are required to by the regulations.
Mrs. Maloney. Maybe the regulations should be changed if ev- eryone agrees posted prices are wrong.


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