Petition to modernize oil and gas accountability laws protects taxpayers, public health, and environment by cleaning up more wells more quickly
Santa Fe, NM – Today, advocates across New Mexico petitioned the Oil Conservation Commission to modernize woefully outdated laws governing oil and gas cleanup, financial assurance and operator transfers. New Mexico’s oil and gas industry is inadequately bonded to the tune of $8.18 billion according to a study commissioned by the New Mexico State Land Office and conducted by the Center for Applied Research. This is a huge financial burden which risks falling on the shoulders of taxpayers. Bonding is essentially “insurance” that would cover the cleanup of well sites in the event that oil and gas companies walk away from their responsibilities, and is legally required prior to drilling. Petitioners include the Western Environmental Law Center, Citizens Caring for the Future, Conservation Voters New Mexico Education Fund, Diné C.A.R.E., Earthworks, Naeva, New Mexico Interfaith Power and Light, San Juan Citizens Alliance, and Sierra Club Rio Grande Chapter. The Western Environmental Law Center represents the coalition.
