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Tax is not the answer. Natural gas is the least expensive hydrocarbon coming from the oil well and the most expensive to contain. The money lost to the escapi
by fuzzfactor 5y ago
Tax is not the answer.
Natural gas is the least expensive hydrocarbon coming from the oil well and the most expensive to contain.
The money lost to the escaping gas is usually more than recovered by the value of the accompanying oil that is marketed. It has often been financially affordable to waste lots of gas since forever.
Most of the wells will have total production "well" in excess of any tax that can actually be required on the gas. It will be too easy to pay new taxes.
Even if an authority was capable of the most effective action ever seen, it should still not be allowed to go for the money grab.
Needs regulation & enforcement instead, which doesn't make the same money, nor have a constant money stream.