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Government Seeks Billions Lost in Drilling Leases

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Government Seeks Billions Lost in Drilling Leases

Business

Government Seeks Billions Lost in Drilling Leases

Government Seeks Billions Lost in Drilling Leases

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The Interior Department's inspector general has blamed bureaucratic bungling for a mistake which could cost U.S. taxpayers $10 billion in royalties. Officials omitted key language from more than a thousand oil and gas leases signed in the late 1990s. Now lawmakers have to figure out how to recover the money, without running afoul of the law.