ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 2415, Orphaned Well Cleanup and Jobs Act of 2021   [open pdf - 307KB]

This is the Congressional Budget Office (CBO) Cost Estimate as ordered reported by the House Committee on Natural Resources on May 26, 2021. From the Document: "H.R. 2415 would authorize appropriations totaling $8 billion in fiscal year 2021 for the Department of the Interior (DOI) to establish an orphaned-well remediation program on federal land and to provide grants to states and Indian tribes for similar purposes. The bill also would direct DOI to collect fees for idled (or nonoperational) oil and gas wells located on onshore federal land and would authorize the department to spend those fees without further appropriation for reclamation and related administration. [...] H.R. 2415 would authorize the appropriations totaling $8 billion in fiscal year 2021. Because that fiscal year has ended, CBO assumes for this estimate that those amounts would be provided in 2022. On that basis and assuming appropriation of the specified amounts, CBO estimates that implementing the bill would cost $7.7 billion over the 2022-2026 period."

Publisher:
Date:
2021-10-06
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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