It's a serious policy failure that this is happening; the people paying to cap wells should be the ones who became wealthy by extracting the oil, not a bunch of random teenagers.
It's a serious policy failure that this is happening; the people paying to cap wells should be the ones who became wealthy by extracting the oil, not a bunch of random teenagers.
6 Comments
DarkGamer@kbin.social · 30 pts · 2y
Privatized profits socialized losses
lettruthout@lemmy.world · 15 pts · 2y
And...
"We're the cleanup crew for a party we were too young to attend." - Kevin Gilbert, from a song on the album Thud
thejevans@lemmy.ml · 12 pts · 2y
silence7@slrpnk.net · 5 pts · 2y
In California, the expected future profits from the oil remaining in the ground won't pay to cap existing wells.
Chainweasel@lemmy.world · 8 pts · 2y
This is definitely going to sound counterproductive, but I think they should have kept the first well they acquired and as a source of income and then used that income to buy and shut down other wells, then cap it.
Make the oil finance its own demise.
thejevans@lemmy.ml · 7 pts · 2y
Badeendje@lemmy.world · 2 pts · 2y
Or drilling rights should come with a required deposit that will pay for the capping once done.
DaDragon@kbin.social · -1 pts · 2y
tsonfeir@lemmy.world · 1 pts · 2y
Next week: Teens become rich by adopting oil well.