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Oil, gas sector tells US lawmakers increased bond costs are unfair, may backfire

September 20, 2023 Comments Off

In addition to protesting plans to restrict leasing in Colorado and Alaska, the oil and natural gas industry is taking aim at the US Bureau of Land Management’s proposal to boost bond costs for leases, telling US lawmakers that it is unfair to impose new costs when there are so few abandoned wells. The current bond rules work and that…