Colorado oil and gas wells can’t fund their own cleanup. Taxpayers may foot the bill | A Carbon Tracker report shows the cost to safely shut down low-producing wells is $3bn more than what they earn
theguardian.com
cross-posted from: https://slrpnk.net/post/10954294
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Maybe cleanup costs should be baked into the price of a building permit...
Yes. If your work requires environmental cleanup, you should be required to post bond to cover it.
From what I understand often they do. And often the bond isn't anywhere close to the actual costs.
So in practice they don't!
IDK about Texas, but in Alberta there's an Orphan Well fund that every company contributes to as part of their royalties that covers expected cleanup. And that's only bankrupt companies, if a solvent company shuts down a well, they pay to restore the land or the province does it and sues them for it.