Bill description: This legislation commits Idaho to regulate the oil and gas industry by making it a signatory to the Interstate Compact to Conserve Oil and Gas.
Bill rating: -1
Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market? Conversely, does it eliminate or reduce government intervention in the market?
The Interstate Compact’s language is contrary to the values of limited government. The compact says, “Each state bound hereby agrees that it will, within a reasonable time, enact statutes, or if such statutes have been enacted then that it will continue the same in force, providing in effect that oil produced in violation of its valid oil and/or gas conservation statutes or any valid rule, order or regulation promulgated thereunder, shall be denied access to commerce; and providing for stringent penalties for the waste of either oil or gas.” (-1)
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