<
https://www.bloomberg.com/news/features/2020-09-17/abandoned-gas-wells-are-left-to-spew-methane-for-eternity>
"In the past five years, 207 oil and gas businesses have failed. As
natural gas prices crater, the fiscal burden on states forced to plug
wells could skyrocket; according to Rystad Energy AS, an industry
analytics company, 190 more companies could file for bankruptcy by the
end of 2022. Many oil and gas companies are idling their wells by
capping them in the hope prices will rise again. But capping lasts only
about two decades, and it does nothing to prevent tens of thousands of
low-producing wells from becoming orphaned, meaning “there is no
associated person or company with any financial connection to and
responsibility for the well,” according to California’s Geologic Energy
Management Division."
Via
libramoon@pluspora.com.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
