The U.S. Interior Department said it will cut bond requirements for oil and gas
firms drilling on federal lands by 95%, lowering required bonds for onshore
federal leases from $500,000 under the Biden administration to $25,000 to
encourage more energy exploration. The bonds are intended to ensure plugging and
cleanup costs are not borne by taxpayers. The policy will enter a 60-day public
comment period after publication in the Federal Register. Interior also said it
will remove certain provisions from waste‑minimization rules that apply to
drilling permit applications and will clarify related definitions.
