Central Montana Times

U.S. Senator Steve Daines, alongside nine fellow Republican senators, urged Secretary Doug Burgum at the U.S. Department of the Interior to reverse the Biden-era regulations increasing the bonding requirements for oil and gas wells on federal lands. The group's call to action was outlined in a letter expressing concerns over increased costs resulting from these regulations.

"We write to express our support of your review of former President Biden’s burdensome regulatory actions that will reduce American energy independence and raise costs for American families and small businesses," the letter stated. It referenced Secretarial Order 3418, which instructs the review of the Bureau of Land Management's April 2024 rule, "Fluid Mineral Leases and Leasing Process," and its significant impact on small oil and gas producers.

The letter highlights the importance of maintaining "proper stewardship of our public lands" and ensuring adequate bonding for cleaning up abandoned wells. It also emphasized the need for bonding requirements to be "reasonable and achievable" to prevent driving producers out of business and increasing prices for American households.

Energy development on federal lands is deemed vital to America's energy security and is seen as vital for economic growth and conservation efforts. The senators expressed their hope that revisiting the bonding requirements will secure America's energy dominance and support community prosperity.

Alongside Daines, Senators Mike Lee, James Lankford, John Curtis, John Hoeven, Kevin Cramer, Tim Sheehy, Cynthia Lummis, Markwayne Mullin, and Lisa Murkowski signed the letter. These senators collectively urged a reevaluation and possible reversal of the current bonding policy provisions.