U.S. Interior’s reduced oil and gas bonding proposal draw rebuke from New Mexico conservationists

U.S. Interior’s reduced oil and gas bonding proposal draw rebuke from New Mexico conservationists

An oil well pumps during a snowstorm in the checkerboard region of northwest New Mexico. (Photo by Jerry Redfern/Capital & Main)The U.S. Department of the Interior earlier this week announced a proposal that would dramatically reduce both the amount of money oil and gas operators need to guarantee for cleanup efforts and the amount of time members of the public have to comment on oil and gas leases. GET THE MORNING HEADLINES. SUBSCRIBE The pro…

Trump Administration to Slash Oil-Drilling Bond Amount by 95% - Energy News, Top Headlines, Commentaries, Features & Events

By David Wethe The US Department of Interior is slashing the bonds oil and natural gas companies must provide when drilling on federal land by 95% in a move to encourage more energy exploration. The bond required in onshore federal drilling leases will be cut to $25,000 from the $500,000 imposed during the Joe Biden ...