The US Department of Defense (DOD) needs to find better oil market indicators to more accurately predict the amount of money it needs to spend on fuel each year, the Government Accountability Office (GAO) said in a report this week. GAO found that the Pentagon was askew in its fuel cost estimates by between $2 billion and $3.4 billion a year in the five fiscal years to 2013, underestimating them between 2010-12 — when technology and research programs had to be halted in order to keep ships, planes and tanks refueled — and overestimating them in 2009 and 2013.
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