This is a New Mexico news story, published by ProPublica, that relates primarily to The Interstate Oil and Gas Compact Commission news.
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influential New Mexico OilProPublica
•82% Informative
New Mexico has more than 70,000 oil and gas wells that leak oil, brine and toxic or explosive gasses.
The state faces a multibillion-dollar shortfall between the money companies have set aside to plug wells and the actual cost of doing so.
The industry, unhappy with the state’s final language, turned against the bill it helped shape.
The Interstate Oil and Gas Compact Commission is a forum where the industry influences the ideas that regulators take back to their states and write into the rules governing oil companies.
States banded together in the 1930s with the approval of Congress , and more recently with federal funding, to share best practices for regulating oil.
Critics say the commission is hampering public interest reform reform.
The U.S. Department of the Interior doles out $4.7 billion to plug orphan wells from the Infrastructure Investment and Jobs Act .
The commission and its members have helped write guidelines governing the spending.
Some states have begun addressing the orphan well epidemic, but reform efforts have foundered.
VR Score
82
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English
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