Big Oil Companies Are Selling Their Wells. Some Worry Taxpayers Will Pay to Clean Them Up.

[Phoenix61]

1. No reason to worry. It's a fact. Taxpayers will pay to

clean them up. Big companies sell to smaller companies as the well becomes less profitable. The smaller companies suck what they can out of the well then abandon them sticking the taxpayer with the cost.
“The Bureau of Ocean Energy Management (BOEM) manages more than 2,000 active oil and gas leases with over 55,000 wells across 10.9 million acres of the Outer Continental Shelf (OCS). Approximately 58 percent of these wells—more than 32,000—are permanently or temporarily abandoned.”

https://www.americanprogress.org/article/fixing-abandoned-offshore-oil-wells-can-create-jobs-and-protect-the-ocean/

https://www.nola.com/news/environment/article_6bdba0f0-db59-11eb-bf95-7fa1a01c1287.amp.htmlLike