US proposes to slash costs for energy drillers on federal lands

[highplainsdem]

Source: Reuters

The Trump administration on Monday proposed looser rules for oil and gas drilling operations on federal ​lands, including a dramatic cut to clean-up costs ‌for abandoned wells.

The moves are aligned with President Donald Trump's goal to reduce regulations for businesses and make it easier to ​invest in production of domestic fossil fuels.

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The Department of the Interior said it would lower the cost of statewide bonds for wells ​to $25,000 per state from $500,000, a level implemented during the Biden ​era.

Bonds cover the costs of plugging abandoned oil and gas wells ‌if ⁠an oil and gas company goes out of business. An analysis by non-profit Resources for the Future in 2021 estimated it costs about $20,000 to plug a ​single oil and ​gas well.

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Read more: https://www.reuters.com/business/energy/us-proposes-slash-costs-energy-drillers-federal-lands-2026-06-22/

[mpcamb]

1. Land Rape- for sale

[Martin68]

2. WTF? This is unconscionable!

[msongs]

3. make them oil drill only on fed lands already used for grazing. that way we get 2 benefits (?) for one payment lol nt