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They'd still make tons of money if they had to cleanup their spills and old mines. They're just greedy and want to make more.
by AndyMcConachie 2y ago
They'd still make tons of money if they had to cleanup their spills and old mines. They're just greedy and want to make more.
- lm28469 2y ago> They'd still make tons of money I don't think you understand the scale of the problem... Plugging leaking wells in the US alone is estimated to cost $280b, that's 10 years of net profit for Shell or ExxonMobil. Even taking the top 5 world oil companies _profit_ from 2022 (most profitable year so far) you're short $80b, for the US alone, and that's only onshore wells. > Researchers estimate that there are between 2-3 million abandoned oil and gas wells in the United States, and more than 117,000 of those, across 27 states, are “orphaned”—that is, uncapped, unproductive, and with no responsible party identified to manage leakage or pollution risks https://www.cnbc.com/2022/02/24/plugging-methane-leaking-oil-gas-wells-in-the-us-will-cost-billions.html https://www.cnbc.com/2022/02/24/plugging-methane-leaking-oil... https://www.sciline.org/environment-energy/abandoned-oil-gas-wells https://www.sciline.org/environment-energy/abandoned-oil-gas...
- PittleyDunkin 2y agoIf the companies can't responsibly operate as a for-profit entity, nationalization seems like a reasonable path forward.