The U.S. government is going over BP (NYSE:BP) in a stringent manner, and they fined the oil giant $5.2 million in relationship to production figures on a Colorado Indian reservation.
BP America is the unit under scrutiny, who the Interior Department says has misreported production data repeatedly on tribal lands of the Ute since 2007.
After Southern Ute auditors had found the alleged discrepancies, BP had promised to change them to the correct figures, which after a period of time, they were checked again, and found to have continued to report false numbers.
While all of this is fine, it is a little cowardly in my opinion to have the Interior Department wait until these circumstances to deal with it and pile on the company, rather than have taken care of it when it happened.
The question is why did they let it go on so long if they indeed knew about it. This doesn't exonerate BP of course, just saying it seems it should have been taken care of long ago if it was true, not at an opportunistic time to make the Interior Department look good.
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