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New Mexico stuck with $8 billion in cleanup for oil wells, highlighting dangers from fossil fuel dependence


NationofChange
New Mexico stuck with $8 billion in cleanup for oil wells, highlighting dangers from fossil fuel dependence
The oil industry boasts that it fills state coffers with revenues from drilling, but a new study finds a serious gap in funding available to tackle the environmental legacy of abandoned wells.
New Mexico is facing more than $8 billion in cleanup costs for oil and gas wells, an enormous liability that taxpayers could be left to pick up if drillers go out of business or walk away from their obligations. 
Cleaning up old wells at the end of their operating lives can be expensive, and typically states require drillers to cover part of the cleanup cost at the outset, known as financial assurance requirements. The money is tapped later on when the well or pipeline must be dismantled and cleaned up. ....

United States , New Mexico , New Mexicans , James Jimenez , Stephanie Garcia Richard , Nm State Land Office Nmlandoffice , Mexico Oil Gas Association , Environmental Law Center , Mexico Oil Gas Nmoilandgas , Permanent Fund , Mexico State Land Office , Land Office , New Mexico State Land Office , Applied Research , Mexico Commissioner , Public Lands Stephanie Garcia Richard , New Mexico Oil , Gas Association , State Land Office , North American , New Mexico Voices , Western Environmental Law Center , ஒன்றுபட்டது மாநிலங்களில் , புதியது மெக்ஸிகோ , ஜேம்ஸ் ஜிமெனெஸ் , மாற்றாந்தாய் கார்சியா ரிச்சர்ட் ,

Oil boom in New Mexico could stick taxpayers with cleanup costs -study


Oil boom in New Mexico could stick taxpayers with cleanup costs -study
Reuters
3 hrs ago
By Nichola Groom
May 20 (Reuters) - Drillers in New Mexico have set aside only a tiny fraction of the money they will eventually need to clean up their wells, pipelines and other infrastructure in the state, leaving taxpayers at risk of footing some of the balance, according to a study published on Thursday.
Concerns are growing about who will pay for the environmental impact of more than a century of oil and gas production in the United States. The issue is front and center in New Mexico, which has rapidly grown into the nation s third-largest oil producer. ....

United States , New Mexico , David Gregorio , Stephanie Garcia Richard , Applied Research , Mexico Commissioner , Public Lands Stephanie Garcia Richard , Nichola Groom , ஒன்றுபட்டது மாநிலங்களில் , புதியது மெக்ஸிகோ , டேவிட் க்ரிகாரியோ , மாற்றாந்தாய் கார்சியா ரிச்சர்ட் , பயன்படுத்தப்பட்டது ஆராய்ச்சி , மெக்ஸிகோ ஆணையர் , பொது நிலங்கள் மாற்றாந்தாய் கார்சியா ரிச்சர்ட் , நிக்கோலா மாப்பிள்ளை ,

Oil boom in New Mexico could stick taxpayers with cleanup costs - study


Oil boom in New Mexico could stick taxpayers with cleanup costs - study
By Nichola Groom
Reuters
(Reuters) - Drillers in New Mexico have set aside only a tiny fraction of the money they will eventually need to clean up their wells, pipelines and other infrastructure in the state, leaving taxpayers at risk of footing some of the balance, according to a study published on Thursday.
Concerns are growing about who will pay for the environmental impact of more than a century of oil and gas production in the United States. The issue is front and center in New Mexico, which has rapidly grown into the nation s third-largest oil producer. ....

United States , New Mexico , David Gregorio , Stephanie Garcia Richard , Applied Research , Mexico Commissioner , Public Lands Stephanie Garcia Richard , Nichola Groom , ஒன்றுபட்டது மாநிலங்களில் , புதியது மெக்ஸிகோ , டேவிட் க்ரிகாரியோ , மாற்றாந்தாய் கார்சியா ரிச்சர்ட் , பயன்படுத்தப்பட்டது ஆராய்ச்சி , மெக்ஸிகோ ஆணையர் , பொது நிலங்கள் மாற்றாந்தாய் கார்சியா ரிச்சர்ட் , நிக்கோலா மாப்பிள்ளை ,