Oil businesses collapsing
lundi 3 août 2020 à 02:00Many oil businesses in the US continue collapsing.
This seems like a good sign. However, I suspect that some of the bigger oil companies are using their bailout money to buy these bankrupt businesses at rock-bottom prices.
The early abandonment of oil wells is a good thing, because it means that the oil still left to extract will remain in the ground. However, a closed well is a source of pollution.
Naturally the Republicans want to give the oil executives more billions to take home before those companies finally disappear, rather that fund cleaning up the wells that will continue to spread toxins.
To keep the well pumping for some more years would not reduce the problem of dealing with it. If it were shut down in 2025 instead of now, that would only postpone the burden which the drilling of the well imposed on society.