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Taxpayer and Environmental Protection: New Rules for Oil and Gas Drilling

New regulations aim to better protect the environment and taxpayer money from the costs of cleaning up after oil and gas drilling. Companies will be required to provide larger financial assurances and detailed reclamation plans before starting work. This is intended to prevent citizens from bearing the costs of abandoned wells.
Key points
Increased financial assurances (bonds) required from oil and gas companies to cover land reclamation costs after operations.
Mandatory submission of detailed land reclamation plans before any work begins, focusing on ecosystem restoration.
Introduction of annual inspection fees for well operators to cover oversight and enforcement costs.
Prohibition on issuing new permits to companies that have failed to comply with previous reclamation obligations.
Implementation of a per-barrel fee on oil and gas produced from federal lands, dedicated to plugging and reclaiming orphaned wells.
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Expired
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Additional Information
Print number: 118_HR_4301
Sponsor: Rep. Porter, Katie [D-CA-47]
Process start date: 2023-06-22
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Bonding Reform and Taxpayer Protection Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4301.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-22.

What are the main provisions?

Key points include:

  • Increased financial assurances (bonds) required from oil and gas companies to cover land reclamation costs after operations.
  • Mandatory submission of detailed land reclamation plans before any work begins, focusing on ecosystem restoration.
  • Introduction of annual inspection fees for well operators to cover oversight and enforcement costs.
  • Prohibition on issuing new permits to companies that have failed to comply with previous reclamation obligations.
  • Implementation of a per-barrel fee on oil and gas produced from federal lands, dedicated to plugging and reclaiming orphaned wells.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Porter, Katie [D-CA-47].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Natural Resources.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Environment Taxes Economy