Trump Administration Moves to Repeal Offshore Decommissioning Rule
The Trump administration is planning to eliminate a rule implemented during the Biden era that mandated certain oil and gas companies to set aside billions of dollars in additional financial assurances for the decommissioning of offshore platforms. The U.S. Department of the Interior stated that this rollback is expected to save the industry $484 million annually in compliance costs. The Biden administration's 2024 rule had required oil and gas companies to...