Privatise the Profits Socialise the Costs Its the American Way

@alenpaul2523

2 жыл бұрын

Ok communist

@cmdr1911

2 жыл бұрын

The wells have taxes levied against them for reclamation. The money is held buy the state and bonds are in place. ODNR has been very good about it and now private companies are coming in and using plugged wells as carbon credits

@RGK504

2 жыл бұрын

@@alenpaul2523 this has nothing to do with Communism, more with egoism.

@haught7576

2 жыл бұрын

@@cmdr1911 the taxes are not enough to cover the real cost, there is a great video to watch on this if you scroll up 👍

@judithsmith9582

2 жыл бұрын

@@alenpaul2523 Not a communist. Just telling the truth about what capitalism is all about where the rich get richer and putz's like you vote against your best interests.

I feel like there should be more responsibility for all of these issues that we have created.

@kkkk-wg6je

2 жыл бұрын

If only there was some sort of tax payer funded possibly government agency that would oversee these these issues and enforce efforts to resolve them in order to improve the health of citizens and the environment.

@MiFobz

2 жыл бұрын

That someone else created,, wasn't my people.

@anthonymoney9423

2 жыл бұрын

ONLY WHYTE PEOPLE OR ASIANS OWN Oil AND GAS COMPANYS SO DONT SAY WE SAY WHYTE FOLK

@samsonsoturian6013

2 жыл бұрын

Fix your own problems. No one is going to fix them for you.

@DangerAngelous

2 жыл бұрын

realistically that *the oil/gas companies* have created

I just left a job with the Bureau of land management where I oversaw the responsible abandonment of these wells. It will take decades to correctly plug and abandon them all. new wells (since the 70's and 80's)require a bond be placed prior to drilling, the bond is supposed to cover the cost of abandoning the well or at least help with it. This is applicable on Federal land, no idea about state.

@KRYMauL

2 жыл бұрын

Why don’t we turn them into geothermal plants. Isn’t the majority of the cost for geothermal in the drilling?

@MagMan4x4

2 жыл бұрын

@@KRYMauL I will tell you why... it does NOT work like that. I can't sit here and break down why from en engineering perspective, you are going to have to take my word for it that it is NOT possible.

@KRYMauL

2 жыл бұрын

@@MagMan4x4 Any book recommendations?

@sendthis9480

2 жыл бұрын

@@KRYMauL Geothermal plants are expected to have a lifespan of 20-40 years. These wells are much older than that and will not be as usable a “freshly drilled well”. I think it’s 3 main reasons: -flow rate of older wells is much slower than what is needed. Steam/gasses aren’t rushing out anymore…they’re trickling. -older wells just aren’t hot enough anymore. They’re not deep enough and have lost most of the heat needed to make geothermal viable. -older wells just aren’t stable. They suffer integrity issues over time that cause structural support to be necessary. A lot of times that structural support is more intrusive or a more financial burden than just drilling a new well. Plus…I don’t think you ever actually use the existing well. You use it as a pilot-hole, and drill a well just > existing. An old two foot drilling hole would be drilled out to be two and a half feet once it’s finish.

@gqp3215

2 жыл бұрын

You are the man

Did these companies actually go bankrupt or nearly declare it to get away from responsibility though?

@steeltoeboots9591

2 жыл бұрын

They are easy to track down more than a few are just shell companies owned by one of the few big wigs. Follow the money it never lies will put you right at the front doorstep.

@graham1034

2 жыл бұрын

Corruption, shell companies, fraud, etc aside you frequently end up with a company paying out all of it's profits as dividends to shareholders and then claiming bankruptcy when it has no money left at the end. These companies are often not meant to belong term, existing solely to extract resource wealth. There isn't anything wrong with that but it does mean that they need to be forced to cover negative externalities BEFORE extracting their profits. This is the "bond" requirement in California that the video mentions.

@nunyabidness3075

2 жыл бұрын

Given that our legal system doesn’t work in such a way to make the difference matter. It doesn’t matter, and likely no one knows. There’s been a fix in policy for new wells. The problem are old wells.

@Elliott_Elliott

2 жыл бұрын

They probably created a subsidiary or shell company which they spun off to declare bankruptcy like J&J did for their recent scandal with toxic baby powder.

@steeltoeboots9591

2 жыл бұрын

@@Elliott_Elliott You get me lol. That's exactly what they do over and over again. Once again they ain't hard to find if they really want to get them.

Some wells that were pumped dry years or decades ago can again produce oil.

EVERY states needs to jump on this problem ASAP!

I like how they site clickbait headlines as sources lol

Can't we redirect some of the $20 billion dollars of annual oil subsidies into this?

@samsonsoturian6013

2 жыл бұрын

If we do that, you'll just advocate punishing drillers for rising gas prices. So shut up

@anyadike

2 жыл бұрын

@@samsonsoturian6013 I don't really understand what you're saying. It sounds like you're saying the oil company shouldn't have to earn their own money, so subsidies should continue even if the oil companies are making good profits. That doesn't really seem to have anything to do with this discussion, but I'm curious if that's what you mean

@kylesmith4572

2 жыл бұрын

People want the government to subsidize their gasoline so they can drive all over the place and feel important (even those who self-identify as "free market"). Few people are willing to reduce their consumption.

@samsonsoturian6013

2 жыл бұрын

@@kylesmith4572 yeah, we want free gasoline and 100% tax on gasoline making. PROGRESS!

Whomever owns the wells has to cap them? That is reasonable

@elisam.r.9960

2 жыл бұрын

So long as the owner still exists, and that's not all that common these days.

@Austin-dd5je

2 жыл бұрын

Hello Empty how are you doing today hope you are doing well?

Nothing about the Well Done Foundation in this piece? They're also working on plugging wells, especially in Pennsylvania and Louisiana.

@justicedemocrat9357

2 жыл бұрын

OMG no one cares about the well dene foundation.

@elisam.r.9960

2 жыл бұрын

@@justicedemocrat9357 What makes you say that?

Have the oil companies cap an old one before they drill their next one. Similar to logging companies planting trees after they finish a clearing.

@drivingmylifeaway7149

Жыл бұрын

Logging companies don't plant trees. For every one tree I cut down, seven will grow back. Putting the tree in distress makes it drop seeds.

@ryanehlis426

4 ай бұрын

This is an old oil and gas problem, new wells have to put up money 💴 to decommission the well. But there are millions of old wells that are abandoned before there was any regulations.

There needs to be more responsibility for these issues created!

@Daniel-gs9eh

2 жыл бұрын

Cope

@elonmust7470

Жыл бұрын

How do you know there isn't? How do you know you aren't being lied to?

some company owns that stuff.. go after them.

@RussInGA

2 жыл бұрын

nobody owns them? I bet some bank claims to own them. Does this mean we can move into an old well and just claim it?

@cmdr1911

2 жыл бұрын

Orpahned wells, the companies and owners have been gone for years, some times for 60+ years

@Austin-dd5je

2 жыл бұрын

Hello Russell how are you doing today hope you are doing well?

When you wanna bit a subdivision in a community the developer generally has to pre-pay for curbs sidewalks and roads which must be complete and pre-paid to ensure that the job is complete when finished. Companies who drill wells should be required to prepay for the sealing of the well knowing one day the well will die ensuring that they are not bankrupt or using loopholes. Very simple legislation!!??

I know why. Lots of open holes locked or not.35 year water well business owner. All my dry holes were abandoned to Md. Regulation, even in Pa. where I also worked not much.

They reap all the profits. But the tax payers are stuck with the cost too clean up after them

@mikelarry2602

2 жыл бұрын

Welcome to the the U.S. built on bs. The founding fathers were British inmates.

Yeah Gavin, he's a real champ!

Whoever heard of an American oil producer using bankruptcy laws to skirt their responsibility to the environment and society. That could not happen in America.

Don't plug wells. Germany turned off there Oil Pump from Russia .

@qinby1182

2 жыл бұрын

Wont happen Energy prices would sky rocket, inflation becoming even higher and the world economy would crash. Nobody would do that.

I have developed a business model that measures the amount of fugitive methane emissions from each well and after plugging the wells we can convert that measurement into carbon offsets suitable for large final emitters can use to comply with their emissions reductions regulations

You guys should cover the oil spills that haven't been cleaned up still and in fact have had the companies cover them up.

@samsonsoturian6013

2 жыл бұрын

Come on, we all know you'd say that no matter what.

The emissions are minimal compared to arctic melt release of methane.

@anbee8127

2 жыл бұрын

I don't know if they're aware.

In south west Ontario a town had to be evacuated because of leaking natural gas from old wells that

See i get that a lot of people who dont care are against climate change prevention measures but this is something so universal that litterally benefits anyone why cant we just get it done

Wow. FL just pours concrete in em. $600 call it done

@StarwoodTech

2 жыл бұрын

Seems like a dumb way for gas wells.

@sendthis9480

2 жыл бұрын

No they don’t. You have no clue what you’re talking about.

These days if you're not spending to recover then stop spending 💰

So... An estimated cost of 280 billion. "A once in a lifetime" federal program to fund this of 4.5 billion USD... Yeah "seems appropriate" 😂😂😂😂😂

@ahadumer418

2 жыл бұрын

It will not cost 280 billion dollars

Should've used wedged gates instead of slab gates. And jmp valves

Why are the tax payers on the hook? A specific clean up tax or fee should be applied to every barrel extracted from the grocery. With mergers and acquisitions none of the oil and gas companies are innocent. Besides its the consumer who will pay which brings the retail price closer to the true cost.

A black man talking about oil wells we’ve come a long way

Possibly the best looking professor ever.

@MyFavoriteColorIsBLUE

2 жыл бұрын

I didn't notice

@AFAndersen

2 жыл бұрын

I only saw a moving scarf...

@repairdrive

2 жыл бұрын

You ain't kidding!

@dingledingle6896

3 ай бұрын

Her report was trash though. The usda made a lot of bad assumptions as a result of it. It did lead to the creation of the orphaned well program though so I guess that’s good.

Oil didn't come from fossils. Research it

Did not talk about the Well Done Foundation at all, doing this before any state thought about it

So I have to have car insurance for if i get into a car accident, my costs can be covered; but if an oil company extracts all of its potential energy, and goes broke, i have to pay for that too???!!!

Here’s an idea: How about the government start keeping proper track of property titles? It’s a basic government function, and will make problems like these easier to prevent and fix. Also, how about we stop linking everything we don’t like to race and poverty? Low cost housing projects? Seriously? You cannot build NEW low cost or affordable housing. Our laws combine with reality and make it IMPOSSIBLE. What you are building are low value housing at above market rates to subsidize connected builders, create opportunities for corruption, and buy votes. Which brings me back to government keeping proper track of titles. Title insurance and surveys are just adding to housing costs because the government doesn’t know who owns what and legislatures are bought off to keep it that way. It’s corruption.

@nunyabidness3075

2 жыл бұрын

@Block Lord I’m with you, but it’s not just the left. This is a huge problem in Texas, too. It’s government avoiding hard work while putting their noses elsewhere and messing things up.

@ahadumer418

2 жыл бұрын

@@nunyabidness3075 dude wells are now documented like these wells are from the early 1900s when they’re were no federal or state laws about this back then

@nunyabidness3075

2 жыл бұрын

@@ahadumer418 I’m sorry? Are you trying to say I’m mistaken about something? What?

@kylesmith4572

2 жыл бұрын

Property titles and mineral rights are different. Most drillers don't own the land they drill on, but instead purchase or lease the mineral rights. And when many of these wells were drilled, there wasn't regulation requiring the paperwork to be traceable so you could have handshake agreements and cash payments that literally no one is currently aware of. This type of thing is exactly why potentially hazardous industry should be regulated and tracked.

@nunyabidness3075

2 жыл бұрын

@@kylesmith4572 I agree, but that regulation often is either ineffective or onerous or both because governments don’t want to have any real responsibility in the processes and, once again, have very poor records of where things are and who owns what. It’s real easy to write a law saying industries must do something, and put all the costs on them, and then never follow up or track anything until it all blows up. If there isn’t any real enforcement then the good players cannot compete with the cheats.

Jajajajajaja Just take the money and RUNNNNNNN

Has anyone seen the state our country's infrastructure is in? That will answer the oil and gas wells question.

Why is't the EPA getting these gas companies together to fix these oil and gas wells?

Why should the 18 states with no oil wells, or benefits of oil sales, pay other states problems. This is a problem caused by the states mis-management.

Maybe we should use them.

So why can't we do all three recover the gas and oil.Then clean up the area in the same process?

Remedy is plug the well or forfeit the property it resides on.

so this is why gas prices are so high..

That is a small ass coil tubing rig.

It costs $125,000 to plug a single well...why??

Why don’t you require each new well installer to plug a certain amount of old one even if not theirs

Just a reminder oil companies have made $1BILLION IN PROFIT EVERY DAY SINCE 1970🤨

Time to start digging I’m gonna be rich

How this oil field became abandoned is a common story....proceeds to not tell that story.

I feel like we should leave them open

Its the least they can do since they charging $6 a gallon of gas ⛽️

We just sent 200 mil in weapons to Ukrainian. Oh and spent trillions in the Middle East. Money isn’t the problem apparently. Priority is tho!

Millions

why do we allow companies to come in a farm for cash and then peace out without cleaning up?? We have this issue in FL as well with mining, and they go BK and peace out with millions in profits leaving the mess for us..... Ridiculous, then WE have to pay for it? that's criminal man.....

It is nice to know what we are up against. Sounds like this is to encourage for us to keep putting money in Putin's pocket.

@blueprint7

2 жыл бұрын

nah

@emperium108

2 жыл бұрын

You do realize a good chunk of the western world is now trying to hit him at his pockets(namely they are not letting Nord2 go forward).

@shilohgardner

2 жыл бұрын

Yup

@shilohgardner

2 жыл бұрын

emperium108 you do realize it’s virtue signaling right?

@emperium108

2 жыл бұрын

@@shilohgardner no, it is hitting Russia where it hurts the most, its economic. If it collapsed once it can collapse again.

Fix the problems and send all those oil and gas to Europe they needs it now.

The biggest problem is that a lot of these wells aren't worth fixing. Especially if they're off the beaten path and small. News agencies muckraking is the opposite of helpful though. It'd be better if they'd all shut up about the entire subject permanently.

@kylesmith4572

2 жыл бұрын

Yeah screw people in producing communities who have their land, water, and air poisoned. What you don't know doesn't hurt you right?

@samsonsoturian6013

2 жыл бұрын

@@kylesmith4572 if that was really your concern, you'd live farther away from civilization. So stop yanking on heart strings, it only shows you don't really care.

Why not have them pay a deposit to plug the well before they even start drilling.

@blackcat-mp7kh

2 жыл бұрын

Lobbying

We not going a way from oil and gas

The words, "Low Priority," and "Government," seem to pop up more often than NOT... Very Trendy if you ask me.

And they have CLEANED UP many,many wells! Pure propaganda.

Man will end after destroying the earth….Albert Schweitzer.

This is old old news why is it still important now? Because no one have done anything about it… Why do none of these companies focus on cleanup instead of shareholders when they are exposing their shareholders to liabilities and not properly cleaning up after themselves. Short term gains long-term losses

I love global warming. I hate cold winters. Do your part and buy a huge gas guzzling SUV.

Western world, raise Ukrainian flags and fight for Ukraine, because if Ukraine does not stand up, then you are next

Your ☝️☝️act of kindness and your service shows how big of a heart you have for

States fault. License and regulate. Leave all ops to pros

When they calculate EV vs. Gas operative cars impact of emissions, the should include the carbon released by these wells. The only reason they exist are to facilitate legacy gasoline vehicles. Therefore it should count against them when figuring out environmental "cost".

@darksprbike

2 жыл бұрын

You have no idea what you’re talking about. Oil and gas is used for a lot of things.

Rusting SINCE THE 1880s!!!!!!!!!!!! WTF

What is Biden doing? Where are his nappies.

Turn them on and make them useful

Here’s and idea. Whoever owns the land must plug the wells on it. Public land? All new drill permits require you to plug 10 wells before you can start drilling any new well. Even if that’s just exploration.

""as we move away from fossil fuels "😂😂😂😂😂😂🤡🤡🤡🤡🤡.. yup that's why oil just hit over 100$ a bbl. i have drilled and managed hundreds and hundreds for oil wells.. i can say i'm glad to make $ 2200/day .. as. drilling consulting and it's never going away..

What about the water use and how unsustainably were using it. Like what about the lacking diversity in crops for stores like grow more kinds grow more things that grow in zones and climate that your in.

#SHINJA #SHIBNOBI LIFECHANGING CRYPTO!

Does not matter who does it, but this needs cleanup and new fossil energy things such as fracking should have and end of life plan to clean up.

@msteen6407

Жыл бұрын

They have been fracking wells since 1949 . Do some research, quit eating all the propaganda

as the world moves away from oil and gas?

@galvinstanley3235

3 ай бұрын

It takes time to move away from oil.Electric cars will fully take over by 2060.

the world isn't moving away from fossil fuel... not anytime soon anyway...

Move people away from abandoned wells no need to sprawl into polluted land it’s bad for taxpayers too

All the more reason to boost our EV infrastructure and get away from oil. This stuff has compounding effects...and that's not good.

@gonesouth661

Жыл бұрын

You don't understand how much oil goes into making EV.

@mikeshafer

Жыл бұрын

@@gonesouth661 how much oil goes into making oil running cars? lol

@mikeshafer

Жыл бұрын

my point being - by that logic, let's just ditch EVs, throw in the towel and destroy the planet. YOLO!

USA has 3rd infrastructure.

Turn them on are start drilling

@cmdr1911

2 жыл бұрын

They aren't productive

@kitsiewr

2 жыл бұрын

You get that these are tapped out wells they never cleaned up...?

well, at least my tax dollars are going to something productive.... I found something nice to say about biden, that wasn't easy.

Working in natural gas, this whole story is highly exaggerated.

@kylesmith4572

2 жыл бұрын

Yeah, industrial sectors today are run identically to the ones 100 years ago. I'm sure your personal experience is relevant in every situation.

I'm early

THIS is another reason to wear a mask lol

Do you people realize how much it cost to plug a well? Last one I was apart of plug about 6 years ago we were about 2 million into it. So good luck with those trillions and let’s see how far that will stretch out.

No, actually thia video is very false. When you operate an oil/gas well, you're dealing with constant govt involvment both state & fed.. When you stop operating a well, it takes mere weeks for the people in charge to find out & give you your choices. Leaving a non operating well unplugged is expensive, & nobody does it.....

It's all lies . All of it all of it👎

Lord Jesus Christ give you real peace and joy

Interesting this comes out today as we are about to get screwed at the pump due to the Ukraine conflict. Many are calling in the US to start domestic oil production again so this climate propaganda video is released.

@xeriscapeguy

2 жыл бұрын

We never stopped oil production, what are you talking about?

I could solve this problem by myself. The government is the problem

@kylesmith4572

2 жыл бұрын

derp.

Good thing electric batteries can be buried and flowers and trees will grow out them

@2148aa

2 жыл бұрын

And fertilize the flowers and trees with spent nuclear power plant fuel setting all around country just waiting for a home.

I think California ought to be concerned about supplying services include adequate water to its citizens instead of inacting a laundry list of woke policies.....your in extreme decline because of pathetic mismanagement California

This comes out when gas prices are about to go up wake up

@haught7576

2 жыл бұрын

Yeah and it was a problem when oil had negative value too, think a little.

Sounds to me like California dropped the ball on this problem! California is mostly democrat so why is this a problem! Don’t worry come mid terms the problems you guys caused will be fixed

Great propaganda editorial. Not accurate but the propaganda seems to work. Don’t call this news, we (the oil industry) have been setting aside money for decades to plug orphan wells. Tell the whole story or call your story what it is...propaganda.

@xeriscapeguy

2 жыл бұрын

Older bonds where inadaquate to cover the cost and some producers were using one bond to cover several wells that would have covered one well.

I'm so bored

Get them wells going 100$ a barrel fossil fuels ain’t going no where chief

@haught7576

2 жыл бұрын

Rot

@williamb6869

2 жыл бұрын

@@haught7576 YOUR BRAIN

First?