It’s a serious policy failure that this is happening; the people paying to cap wells should be the ones who became wealthy by extracting the oil, not a bunch of random teenagers.

  • Chainweasel@lemmy.world
    link
    fedilink
    English
    arrow-up
    0
    ·
    4 months ago

    This is definitely going to sound counterproductive, but I think they should have kept the first well they acquired and as a source of income and then used that income to buy and shut down other wells, then cap it.
    Make the oil finance its own demise.

    • DaDragon@kbin.social
      link
      fedilink
      arrow-up
      0
      ·
      4 months ago

      Even better, scratch the ‘cap other wells with the profits’ part, and just use the profits to buy as many oil wells as you can

    • thejevans@lemmy.ml
      link
      fedilink
      arrow-up
      0
      ·
      4 months ago

      These oil wells are available because they are not profitable, and often because they cost more to run than they could possibly produce.