Oil-Spill Agency Fetches $13 Billion Amid ‘Cozy’ Ties
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The U.S. agency overseeing offshore drilling safety is also the government’s second-largest money maker, a dual role being probed in hearings on last month’s deadly oil-rig explosion in the Gulf of Mexico.
The Minerals Management Service generates about $13 billion a year for the U.S. Treasury by partnering with companies such as BP Plc and Exxon Mobil Corp. to develop oil and natural gas, trailing only the Internal Revenue Service in revenue.