The Rising Influence of Rising Affluence

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XOM/CVX/SHEL/BP/etc ... Big oil liability on abandonment costs - several years ago I posted about the hundreds of thousands of idle or improperly abandoned wells onshore. Offshore liability will be traced back to original lease holders in Fed waters. It is just amazing the amount of crap that big oil gets away with especially on offloading liability via sale to small operators that they know don't have the finances to properly abandon wells (ie. some casing removal plus cementing to protect groundwater and gas leakage). Taxpayers end up with the costs instead of sellers or buyers posting abandonment bonds.

https://www.nytimes.com/2023/05/08/climate/gulf-of-mexico-oil-wells-plug.html