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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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052289
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05228900.016
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1990-09-17
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BUSINESS, Page 89Business NotesSCAMS100 for You, One for Me
To several hard-pressed Indian tribes, the millions of gallons
of oil and gas flowing from reservation wells have meant the
difference between crushing poverty and financial stability. Now
the Senate Special Committee on Investigations reports that one oil
company may have stolen as much as 1.9 million bbl., worth $31
million, from the tribes since 1986. In hearings before the
committee last week, investigators told of concealing themselves
near remote oil-storage depots in Oklahoma earlier this spring to
watch employees of Wichita-based Koch Industries transferring oil
from Osage tribal storage tanks to trucks. According to witnesses,
Koch employees typically reported removing only 100 bbl. of oil for
every 101 bbl. actually taken. Arizona's Democratic Senator Dennis
DeConcini, chairman of the committee, said he would refer the
matter to the Justice Department for possible prosecution.