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Who are they selling them to, and how will they get out from the responsibility?
by whatshisface 4y ago
Who are they selling them to, and how will they get out from the responsibility?
- danuker 4y agoCompanies that exist only to enter such risky markets. The upside is turned into dividends. But if a law gets passed to make the owners clean up, poof, bankruptcy. The very definiion of "Limited Liability".
- Invictus0 4y agoOne of the companies they sell them to is DEC, which I invest in. These old wells are still profitable but only for organizations with lower cost structures that specialize in handling these sorts of end-of-life regulations and maintenances. State governments subsidize them to maintain the wells long into the future. https://www.div.energy/ https://www.div.energy/
- simonebrunozzi 4y agoYou made me think of this DEC [0], which of course is another thing. Which one is the DEC you are referring to, and how do you invest in it? [0]: https://en.wikipedia.org/wiki/Digital_Equipment_Corporation https://en.wikipedia.org/wiki/Digital_Equipment_Corporation
- Invictus0 4y agoThe link I posted is DEC's website. The name is Diversified Energy Corporation, DEC is their ticker.
- thinkcontext 4y agoBottom feeder companies that will squeeze some money out of them before declaring bankruptcy. Because of inadequate bonding requirements taxpayers will wind up footing the bill for cleanup. Its deja vu all over again with the coal industry.