From Yahoo Finance: 2025-05-02 14:23:00

The Trump administration plans to revise a Biden-era rule requiring the oil and gas industry to provide nearly $7 billion in financial assurances for decommissioning. The Interior Department will develop a new regulation in alignment with Trump’s push to reduce federal regulations and boost domestic energy production. Interior Secretary Doug Burgum stated that the revision will protect the American taxpayer while allowing energy producers to focus on exploration and production. The Biden policy aimed to hold companies accountable for cleanup responsibilities, but was challenged in court by oil-producing states. Environmental groups supported Biden’s reform to ensure accountability.



Read more at Yahoo Finance: US will revise Biden-era offshore oil and gas bonding rule