** The $8 billion gap in New Mexico's oil and gas cleanup
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Thursday, May 20, 2021
New Mexico has one of the largest federal oil and gas programs in the country | New Mexico Bureau of Land Management ([link removed])

New analysis from the Center for Applied Research has found that oil and gas infrastructure in New Mexico could leave the state with a cleanup bill to the tune of $8.18 billion ([link removed]) as a result of insufficient bonding. Bonds are financial assurances held by the state to ensure site cleanup in the case of company bankruptcy.

Market volatility is extremely common in the oil and gas industry, making boom-and-bust the name of the game. As a result, operators may file for bankruptcy in the middle of operations during a downturn, leaving behind minimal bonds and a mess for taxpayers.

The analysis examined the difference between the actual cost of cleaning up oil and gas sites and the bonds held by the state ([link removed]) , finding that the financial assurances only amounted to $200 million, or about 2.4% of approximate cleanup costs. The findings highlight the desperate need to reform bonding in Western states and hold oil and gas companies accountable while protecting taxpayer money and local communities.

State Land Commissioner Stephanie Garcia Richard responded to the new report, saying ([link removed]) , “That’s $8.1 billion that we don’t have, but will be needed to fill the gaps where existing financial assurances won’t cover the cost... No one can afford these obligations if they have gone bankrupt. That is why we need companies to be adequately bonded on the front end.”

The report also highlighted the fact that nobody has full information regarding all of the pipelines ([link removed]) in New Mexico, and as a result the state's liability is likely higher than estimated.

“These findings require our full attention, participation, and action as a state,” Garcia Richard said ([link removed]) . “Enormous sums of taxpayer money and money meant for public schools, along with the long-term health of our lands, are on the line. I am committed to ensuring we get to a place where responsible parties are adequately bonded.”
Quick hits


** Oil CEOs declined to answer to the American people in congressional hearing
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The Hill ([link removed]) | E&E News ([link removed])


** It's high time we listen to indigenous women on climate
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Mississippi Free Press ([link removed])


** Severe drought, worsened by climate change, is ravaging the American West
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New York Times ([link removed])


** Saving the American West's sagebrush sea
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Science Friday ([link removed])


** America the Beautiful plan is an opportunity for local New Mexico conservation efforts
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Silver City Daily Press ([link removed])


** Congress can help prevent the costly problem of wildlife-vehicle collisions
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Pew ([link removed])


** Time-lapses show an eruption of private land development in the Greater Yellowstone Ecosystem
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Mountain Journal ([link removed])


** Colorado senators join effort to preserve Japanese internment camp as national historic site
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Denver Channel ([link removed]) | Denver Post ([link removed])
Quote of the day
Principle number one—voluntary conservation. That's what we have today. Principle number two—respecting private property rights. No land grab here."

—Ag Secretary Tom Vilsack on 30x30 and the America the Beautiful conservation plan, NTV News ([link removed])
Picture this


** @U ([link removed]) SFWSRefuges ([link removed])
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The second contestant of this spring's #WMBDate ([link removed]) is Celeste! Celeste is a roseate spoonbill foodie influencer in search of someone with show stopping dance moves. Photo taken at Ash Meadows National Wildlife Refuge in Nevada by Peter Pearsall/USFWS

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