Oh, my... more evidence of that old grinch “externalized costs” again!


Jill Morrison, executive director of the Powder River Basin Resource Council, an environmental group in Wyoming, says every state that has oil and gas is struggling with the cleanup task "because the industry has not been held accountable by the regulators and by the government to pay the cost of doing business."

Morrison also worries another bust could put Wyoming's orphan well program budget over the edge.

"We're going to quickly be in the tens of millions of dollars responsible for plugging and reclaiming oil and gas wells if we don't require upfront bonding," she said.

That means making companies pay the full cost of plugging wells even before they start drilling. But the industry pushes back on the idea.

It’s a good thing that socialized action (government intervention) is willing to step into the breach left by Capitalism’s irresponsible failures.

You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.
R. Buckminster Fuller