Biden Administration’s New Rule Addresses $900 Million Oil Infrastructure Decommissioning Cost with Increased Bond Requirements.

Caricot Tracker, a climate group, has highlighted a $900 million cost of decommissioning old oil infrastructure in Wyoming. The group points out that a proposed oil and gas rule from the Bureau of Land Management would only add $28 million to current federal bonds to cover this cost. The rule, which would be the most significant update to public land regulations in decades, is part of a broader effort by the Biden administration to tighten restrictions on public land drilling. The proposal would increase the minimum bond for a BLM lease from $10,000 to $150,000, a safeguard for cleanup costs if companies go under.