October 3, 2023 |
Photo – Oil Rigs in the Pinedale area – Courtesy Oil and Gas Journal
Governor Mark Gordon has rejected so-called funding from the Biden Administration that is harmful to Wyoming’s economy and interests. The White is using federal Inflation Reduction Act dollars to shut down producing oil wells. The Emissions Reduction Program offers a total of $350 million to states under the guise of reducing methane emissions.
The anti-carbon zealots in the White House are targeting low-volume oil wells, often referred to as stripper wells. Stripper wells provide about 10% of the state’s oil production. They generate about $265 million in revenue per year for Wyoming.
The Biden program would have paid Wyoming $5 million total, or less than 2% of their annual worth to the state.
“This approach – concocted by DC bureaucrats – shows a complete disregard for the importance of this industry to Wyoming’s economy,” Governor Gordon said in a statement. “These are wells that have, and will continue to produce, significant amounts of oil; provide jobs through hundreds of small businesses; and generate revenues for schools, the state and local government.”
Wyoming leads the nation in plugging abandoned and orphan wells with the funding. In a statement, the governor said Wyoming has spent about $35 million plugging orphan wells. The money comes from oil and gas operators as well as a conservation tax paid on the sales of oil and gas.
Wyoming is telling the Biden Administration, “No thanks. Keep it.”
