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flag The Interior Department proposes rolling back a 2024 offshore drilling decommissioning rule to cut costs and boost production.

flag The U.S. Department of the Interior is proposing to roll back a 2024 Biden-era rule that required offshore oil and gas companies to set aside $6.9 billion in financial assurance for decommissioning, citing excessive costs for small operators. flag The change, aligned with President Trump’s energy agenda, aims to save the industry $484 million annually, boost investment, and support domestic production while maintaining taxpayer protections through updated risk assessments. flag The proposal is open for a 60-day public comment period.

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