U.S. Department of Interior Cuts Oil Drilling Bond Requirements by 95% to $25,000

According to Jin10, the U.S. Department of Interior announced on June 23 that it is cutting the bonding requirements for oil and gas drilling on federal lands by 95%, from $500,000 to $25,000, to encourage increased energy exploration. The reduced bonds, previously set under the Biden administration, will enter a 60-day public comment period following publication in the Federal Register.
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