Sydney Kamlager-Dove: “There is so much to fact check and so little time. My colleagues have mentioned bonding proposals, but the BLM's bonding…”

“There is so much to fact check and so little time. My colleagues have mentioned bonding proposals, but the BLM's bonding proposal would help ensure that oil and gas foot the bill for cleaning up their messes, not the American people. By requiring them to post adequate bond money before they drill, we can help avoid them shirking that duty later on by selling off their exhausted wells to shell companies and similar tactics. My colleagues across the aisle have said this proposal is unnecessary; no need to post bond ahead of time. Trust Big Oil. They are good for it. Pardon me if I am skeptical. We have been hearing so much about posting bonds over the last week or so. It is often the same story: A company or an individual will brag and brag about supposed wealth, but when it comes time to put that money up, suddenly they come up short. Sometimes they even have to file for bankruptcy. Many oil and gas companies operate in the same way. They benefit from resources but are afraid of regulations that would set bond amounts that ensure that they actually clean up after themselves instead of skipping town. The proposed BLM rule would require fossil fuel companies to provide reasonable collateral to ensure they pay to clean up after themselves. I have another fact check for you before I yield.…”