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Restoration
Objective: Amend Law 117-169 (Tax Credit Funding).
- Funding: Sell Federal Tax Credits to fund program.
- Objective: Restore orphan well sites.
Pilot: Galveston Bay Orphan Oil & Gas Well Closure Plan
Objective: Amend Law 117-169 (Tax Credit Funding).
- Pilot Goal: Fund 175 well closures (plugging) per year.
- Well plugging crews: 6.
- Bay location: Galveston, Matagorda, Trinity.
- Water depth: 5 to 30 feet.
- Potential inmate jobs: TBD.
- Total program cost: $ 60.0 million annually.
- Program duration: Five years.
- Savings to RRC - Texas: $ 60.0 million annually.
- Type of job: Plugging orphan wells and site cleanup.
Long Term: Orphan Oil & Gas Well Closure Plan
Objective: If the pilot is successful, expand Statewide.
- Amend Law 117-169 (Tax Credit Funding).
- Problem: 10,000 abandoned oil & gas wells.
- Goal: Fund 2,000 well closures (plugging) per year.
- Location: 150 counties with 80 crews.
- Potential inmate jobs: 500.
- Program cost: $ 200.0 million annually.
- Program duration: Ten years.
- Savings to RRC-Texas $ 200.0 million annually.
- Type of job: Plugging orphan O&G wells.
How To Fund Our Vision!
Objective: If the pilot program is successful, expand Statewide.
1. Amend Public Law 117-169 (Tax Credit Job Funding).
- Law: Inflation Reduction Act.
- Pilot Funding: $ 60.0 million per year.
- State Program Funding: $ 200.0 million per year.
- Related programs: $ 400.0 million per year.
2. Amend WOTC Section 51 (Employer Incentive).
- Law change to increase $ 9,000 to $ 25,000.
- GOAL: Incentivize employers to hire felons.
- Jobs: 2,000 O&G incentives per year.
- Tax incentive: $ 25,000 per employee.
- Annual cost: $ 50.0 million (2,000@$25,000 each).
- Avoided cost: $ 600.0 million (2,000@$300,000 each).