This new fluid mineral leasing rule is further proof that the Biden Harris regime is using every tool in their administration to dismantle american energy production. It increases bonding levels for production on federal lands and proposes ending nationwide bonding and increasing the minimum bond amounts for individual lease bonds and statewide lease bonds from ten thousand dollars to one hundred fifty thousand dollars and from twenty five thousand dollars to five hundred thousand dollars respectively. This significant increase will tie up capital that would otherwise be put back into production and is unjustifiable, as there are only 37 orphaned oil and gas wells on BLM managed lands. (40:36–40:46)
CLAIM
Asserts that the rule increases bonding levels and proposes significant increases in bond amounts.
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