Jun. 22 at 8:10 PM
The Trump administration on Monday proposed rolling back several regulations governing oil and gas drilling on federal lands, including a sharp reduction in bonding requirements used to cover the cleanup of abandoned wells. The Interior Department would lower state-wide bond requirements to
$25,000 per state from the
$500,000 level established under the Biden administration.
The proposal is aimed at reducing compliance costs and encouraging investment in domestic fossil fuel production. Interior Secretary Doug Burgum said the changes would remove barriers that have discouraged development while supporting economic growth on public lands.
The agency also proposed shortening the public review period for drilling permits from 90 days to 10 days and eliminating certain methane-emissions requirements for oil and gas operations. According to the Interior Department, the regulatory changes could reduce industry compliance costs by nearly
$17 million annually.
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