abandoned oil and gas wells economics
Credit: Amelia Martin/BigStock Photos ID: 396427748

The looming cost of unaddressed oil well closures

As the oil industry faces a downturn, unplugged oil and gas wells present significant environmental and financial challenges, potentially burdening taxpayers with the cleanup bill.

Mark Olalde and Nick Bowlin report for ProPublica and Capital & Main.


In short:

  • More than 2 million unplugged wells across the U.S. pose environmental hazards and contribute significantly to climate change through methane emissions.
  • The financial provisions for well cleanup cover less than 2% of the estimated costs, leaving a substantial financial burden on taxpayers.
  • Regulatory loopholes and insufficient enforcement allow companies to evade cleanup responsibilities, exacerbating the problem.

Key quote:

"The data presents an urgent call to action for state regulators and the Department of the Interior to swiftly and effectively update bond amounts."

— Shannon Anderson, organizing director of the Powder River Basin Resource Council

Why this matters:

The environmental and financial fallout from unplugged oil and gas wells affects public health and climate change indicating a pressing need for policy reforms to protect both the environment and taxpayer interests. Lax oversight and accounting sleights-of-hand help to make passing the buck on abandoned oil and gas wells a persistent and pernicious burden on the public good.

Op-ed: Ripe for disaster declarations — heat, wildfire smoke and death data

Currently, the federal data on extreme heat and wildfire smoke itself constitutes a major disaster.

Extreme heat and wildfire smoke should of course be defined as major disasters by the Federal Emergency Management Agency. According to the National Weather Service, heat kills more people in this nation than hurricanes, tornadoes, floods, and lightning combined.
Keep reading...Show less
Senator Whitehouse & climate change

Senator Whitehouse puts climate change on budget committee’s agenda

For more than a decade, Senator Sheldon Whitehouse gave daily warnings about the mounting threat of climate change. Now he has a powerful new perch.
Amid LNG’s Gulf Coast expansion, community hopes to stand in its way
Coast Guard inspects Cameron LNG Facility in preparation for first LNG export in 2019. (Credit: Coast Guard News)

Amid LNG’s Gulf Coast expansion, community hopes to stand in its way

This 2-part series was co-produced by Environmental Health News and the journalism non-profit Economic Hardship Reporting Project. See part 1 here.Este ensayo también está disponible en español
Keep reading...Show less

Living near oil and gas operations linked to worse mental health in people hoping to become pregnant

Living near oil and gas operations, including fracking wells, is linked to stress and depression in people who are planning pregnancies, according to a new study.

Keep reading...Show less

Monday breaks record for hottest day ever recorded

Monday set a new global temperature record, surpassing the previous day’s high, as extreme heat continues to affect countries worldwide, according to European climate data.

Sibi Arasu and Seth Borenstein report for The Associated Press.

Keep reading...Show less

Landslides in Ethiopia claim 229 lives

A double landslide in southwestern Ethiopia killed 229 people on Monday, burying rescuers who rushed to help those initially trapped.

Lynsey Chutel and Kumerra Gemechu report for The New York Times.

Keep reading...Show less

Paris aims to host the most sustainable Olympics in 2024

The Paris 2024 Olympics commit to halving the carbon footprint of previous Games through various green initiatives.

Ciaran Varley and Dave Lockwood report for the BBC.

Keep reading...Show less
Oil Tanker sinks in Manila Bay
Credit: Alex Traveler/Flickr

Tanker sinks in Manila Bay, sparking fears of major oil spill

A Philippine oil tanker sank in Manila Bay, potentially causing a major spill, after being battered by waves, prompting the coast guard to rescue 16 of 17 crew members.

Jim Gomez reports for the Associated Press.

Keep reading...Show less
From our Newsroom
climate change flooding

Op-ed: The climate crisis demands a move away from car dependency

Power shutoffs or wildfire evacuations can be deadly for disabled people, especially nondrivers who may not have a way to get to a cooling center or evacuation point.

joe biden

Biden administration unveils plan to wean US government off single-use plastics

“Because of its purchasing power … the Federal Government has the potential to significantly impact the supply of these products.”

chemical recycling

Chemical recycling has an economic and environmental injustice problem: Report

“It wouldn’t even make a dent in the amount of plastic pollution out there.”

carbon capture

30 environmental advocacy groups ask PA governor to veto carbon capture bill

“Putting resources toward carbon capture and storage instead of renewable energy is wasting time we don’t have.”

climate justice

Op-ed: Farmers of color need climate action now. The farm bill is our best hope.

Farmers of color who are leading the charge for regenerative farming, as they have done for generations, need our support now more than ever.

Stay informed: sign up for The Daily Climate newsletter
Top news on climate impacts, solutions, politics, drivers. Delivered to your inbox week days.