A federal judge in Louisiana has rejected a bid by three Republican-led states to block a rule adopted during Democratic President Joe Biden’s administration that requires the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover the costs of dismantling old infrastructure, reports Reuters.
U.S. District Judge James Cain in Lake Charles last week declined to issue a preliminary injunction sought by Republican state attorneys general from Louisiana, Mississippi and Texas and four oil and gas industry groups blocking the policy. Read more.
