Today’s Wyo. Oil and Gas Conservation Commission hearing will consider 110 letters objecting to the plan by Aethon Energy, plus Aethon’s own justifications for the request.
Wyoming submitted its bid for Occidental Petroleum’s 1 million acres of land and 4 million mineral acres July 10. Officials haven’t heard any news, they said this week. One called the silence worrying.
Wyoming is a national leader in many aspects of oil and gas industry management, but recent developments threaten to undermine our effective and conservative approach.
An internal memo to the Legislature from its fiscal analysts anticipates $555 million to $2.8 billion in lost revenues from COVID-19 and an oil price war. “Armageddon,” in the words of one lawmaker.
Downtowns and the state’s cornerstone are under the gun from a pandemic response that necessitates curtailing economic activity. Economists predict prolonged impacts.