"The Trump administration on Monday proposed looser rules for oil and gas drilling operations on federal lands, including a dramatic cut to clean-up costs for abandoned wells.
The moves are aligned with President Donald Trump's goal to reduce regulations for businesses and make it easier to invest in production of domestic fossil fuels.
"These targeted updates cut through the red tape that has historically deterred investment, ensuring our public lands remain a reliable engine for economic growth and innovation," Interior Secretary Doug Burgum said in a statement.
The Department of the Interior said it would lower the cost of statewide bonds for wells to $25,000 per state from $500,000, a level implemented during the Biden era."
Source: Reuters, 06/23/2026
