Oil Companies Must Set Aside More Money to Plug Wells, a New Rule Says. But It Won’t Be Enough.
https://www.propublica.org/article/oil-companies-must-set-aside-more-money-to-plug-wells-a-new-rule-says-but-it-wont-be-enough
by Plastic-Age5205
Oil Companies Must Set Aside More Money to Plug Wells, a New Rule Says. But It Won’t Be Enough.
https://www.propublica.org/article/oil-companies-must-set-aside-more-money-to-plug-wells-a-new-rule-says-but-it-wont-be-enough
by Plastic-Age5205
1 comment
>…over the most recent five-year period, oil companies ignored the Bureau of Land Management’s demands to increase their bonds more than 40% of the time, a ProPublica and Capital & Main review of agency data found. The final rule did not change how these reviews are carried out or enforced.
>Evidence abounds of regulators’ past failures to hold the industry to account for cleanup: hundreds of thousands — potentially millions — of so-called orphan wells that companies have walked away from and left to the government to plug. Environmentalists, researchers and some politicians worry the window is closing to fix the problem while the industry is still profitable and there’s political momentum.