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Our 4 1/2-month investigation uncovered how The RealReal, a high-profile $1.5 billion public company that bills itself as the world's largest online marketplace for luxury merchandise, does not have experts authenticating every item as the company claims, leading to obvious counterfeits being sold on the website.
When the government awards energy companies the rights to drill for offshore oil and gas, it’s supposed to make sure the American public, which owns the resources, doesn’t get screwed. The government is required by law to use “competitive bidding” and to ensure that taxpayers receive “fair market value.” However, decades of data suggest that the government has been falling down on the job, a Project On Government Oversight analysis found. Among POGO’s discoveries: Instead of taking the trouble to estimate the value of individual offshore tracts, the government has simply labeled many of them worthless and has awarded drilling rights on that basis. Energy companies have invested billions of dollars in tracts the Interior Department categorized as “non-viable”—in other words, worthless. Over the past 20 years, more than two-thirds of the leases that ultimately became energy-producing had been deemed worthless by the Interior Department.
This investigation uncovered an oil company scandal: Shell Oil Company was planning to close a refinery, even though it was making big profits. The investigation found that, even though Shell Oil claimed the oil field was tapped out, the real motivation for the closure was to fix oil prices.