cross-posted from: https://slrpnk.net/post/10954294
These are the same companies who got massive tax payer funded subsidies: So much for The Free Market I guess.
They sure are, it’s almost like the free market is a made up fantasy that does not exist today (if it ever existed at all).
Maybe cleanup costs should be baked into the price of a building permit…
Yes. If your work requires environmental cleanup, you should be required to post bond to cover it.
From what I understand often they do. And often the bond isn’t anywhere close to the actual costs.
IDK about Texas, but in Alberta there’s an Orphan Well fund that every company contributes to as part of their royalties that covers expected cleanup. And that’s only bankrupt companies, if a solvent company shuts down a well, they pay to restore the land or the province does it and sues them for it.
It’s not even that they “can’t” fund their own cleanup. The put down a cleaning deposit before operations begin and just walk away when the cleanup costs more than they originally put down.
I’d say they give the finger while walking but they need their hands to count their profits
“Too big to fail” == “Too big to care”.
They know that they can’t be held responsible so they literally don’t care about the consequences of their actions
If these companies can’t afford to pay for insurance to cover their asses, then they’re a failed business that shouldn’t be allowed to operate.
