Amid rising oil & gas prices & reports of record oil industry profits, a number of gov'ts., such as the State of Alaska, have taken steps to reevaluate &, in so

In FY 2007, domestic and foreign co. received over $75 billion from the sale of oil and gas produced from fed. lands and waters. These co. paid the fed. gov¿t.

Every 5 years, the fed. gov¿t. decides the areas in the offshore waters of the U.S. it will offer for leasing and establishes a schedule for individual lease s