Quote:
Originally Posted by Harry Lime
Haven't we paid for the companies to do this themselves, twice already? The first time, the large companies just drained the shell companies that had the obligations, and folded the shell. The second time, I'm guessing that the large companies created a shell to accept the public funding to cleanup the wells, then drained the companies and folded the shell.
I wonder what happens this time?
|
I don’t think the second one happened. The money put toward orphan wells by government has been very small. The bulk of the money put into the orphan well fund is industry cleaning up after failed companies.
This on the surface looks like a method to get the public to underwrite the problem rather than taxing industry.