New Bush Scandal: Helping Big Oil Companies Hide Billions From Government at Taxpayer Expense

Oil companies leasing federal land to drill for oil are required to pay the government royalties based on a percentage of their sales. But under the Royalty-in-Kind program, the companies can pay in the form of oil and gas instead of cash. The problem is that oil and gas prices have increased more than the value of the oil and gas royalty revenues being received, meaning that the oil companies are managing to withhold a growing amount of their profits from Uncle Sam.

http://www.truthout.org/docs_2006/052507O.shtml



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