The state of Texas and its taxpayers could be on the hook for paying up to US$117 billion for the cleaning-up of abandoned wells as a growing number of U.S. oil companies go bust, and the guarantees for paying for the cleanup cover only 1 percent of estimated costs, a report by climate finance think-tank Carbon Tracker showed on Thursday.
The scam is to privatize the ”profits” made by socializing the inherent losses. Losses in cash paid by the people, losses in health and suffering by toxic work and pollution. Losses of the ruined environment and massacred animal life, and above all pending mega losses in spiraling Climate chaos. (see also Cancer AlleyAs virus ravages Louisiana, ‘Cancer Alley’ residents Fight Back
$117 BILLION to pay, and that’s just Texas.
”But what about the Magnificent new horizon of the Permian West Texas and New Mexico fields. The Investment of a Lifetime in the pipelines and the Golden Opportunity of cornering the World LPG supply to make Texas the triumphant Plastics Capital of the dying planet”. (note. LPG is the semi liquid pumpable part of gas production used to make plastics etc, its not LNG)
Image projected onto Houston petrochemical plant during the Houston Toxic Tour, 2017. Credit:
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