U.S. Sen. Michael Bennet has unveiled two legislative proposals to clean up abandoned oil and gas wells and to clarify the level of notification the federal government must provide in leasing public land.

“In Colorado, our economy — from ranching to recreation — depends on multiple shared uses of our public lands. This administration’s approach has too often undermined that multiple-use mission, cutting Colorado out of land management decisions and leaving local governments on the hook to clean up the mess,” said Bennet. 

The first bill, the Oil and Gas Bonding Reform and Orphaned Well Remediation Act, would establish a fund of $500 million in each of the first two fiscal years for the cleanup, remediation and restoration of well sites. An estimated 56,600 documented orphaned wells and as many as undocumented 746,000 sites exist, according to the legislation. There would also be increased thresholds for extraction companies’ financial assurance that would address future remediation on public land.

The second bill, the Public Engagement Opportunity on Public Land Exploration Act, would require leases of public land to undergo enhanced notification requirements and provide transparency in bidding.

“Abandoned oil and gas wells which are not properly reclaimed are a huge burden on the American taxpayer,” said Pitkin County Commissioner Greg Poschman in supporting the proposals. “The transfer of liability and expense from the gas producers to the taxpayers after the wells are played out must stop. Energy producers have a responsibility to pay their way and let the market reflect the true cost of oil and gas production.”