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Plugging abandoned oil wells and stopping methane leaks [video]

75 points by nathanh4903 2y ago

deleted 2y ago
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pstuart 2y ago
And who pays for this? Is this ye olde privatize the profits and socialize the costs?
- OptionOfT 2y ago
  Speaking for CA: to drill a new well the company must post a bond that is returned when the company closes the well. If they don't, the bond is used to close the well. Problem: the cost of the bond is WAY lower than the actual cost of plugging the well. So companies abandon them, and there is seemingly no penalty. So society pays for it. > California’s oil wells cost an average of $68,000 to properly plug and clean up once they are done producing. However, the average bond currently available to cover those costs is only $1,000 per well. From https://environmentamerica.org/california/resources/mapping-the-risks-of-californias-idle-and-orphan-oil-wells/ https://environmentamerica.org/california/resources/mapping-...
- toomuchtodo 2y ago
  Us. Yes. https://www.propublica.org/article/the-rising-cost-of-the-oil-industrys-slow-death https://www.propublica.org/article/the-rising-cost-of-the-oi... ("Propublica: The Rising Cost of the Oil Industry’s Slow Death") https://news.ycombinator.com/item?id=39468361 https://news.ycombinator.com/item?id=39468361 ("HN: The Rising Cost of the Oil Industry’s Slow Death")
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azinman2 2y ago
It’s hard to imagine this is the only way to achieve this. I have no background here, but there’s got to be a faster, cheaper way that then can be scaled across the 3M abandoned sites in the US. Next, do the rest of the world.
- Faaak 2y ago
  > I have no background here, but [...] Indeed
  - azinman2 2y ago
    Do you? You have knowledge that the problem is literally unsolvable any other way?
    - deleted 2y ago
      [deleted]
  - _fs 2y ago
    What was the point of this reply? The tech startup world has been taking an outsiders look at problems in an attempt to solve them in a novel way for the past 30 years. Maybe this is not the web site or discussion forum for you if you want to disparage people for thinking outside the box.

75 points by nathanh4903 2y ago

deleted 2y ago

[deleted]

pstuart 2y ago

And who pays for this? Is this ye olde privatize the profits and socialize the costs?

OptionOfT 2y ago
Speaking for CA: to drill a new well the company must post a bond that is returned when the company closes the well. If they don't, the bond is used to close the well. Problem: the cost of the bond is WAY lower than the actual cost of plugging the well. So companies abandon them, and there is seemingly no penalty. So society pays for it. > California’s oil wells cost an average of $68,000 to properly plug and clean up once they are done producing. However, the average bond currently available to cover those costs is only $1,000 per well. From https://environmentamerica.org/california/resources/mapping-the-risks-of-californias-idle-and-orphan-oil-wells/ https://environmentamerica.org/california/resources/mapping-...
toomuchtodo 2y ago
Us. Yes. https://www.propublica.org/article/the-rising-cost-of-the-oil-industrys-slow-death https://www.propublica.org/article/the-rising-cost-of-the-oi... ("Propublica: The Rising Cost of the Oil Industry’s Slow Death") https://news.ycombinator.com/item?id=39468361 https://news.ycombinator.com/item?id=39468361 ("HN: The Rising Cost of the Oil Industry’s Slow Death")

deleted 2y ago

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azinman2 2y ago

It’s hard to imagine this is the only way to achieve this. I have no background here, but there’s got to be a faster, cheaper way that then can be scaled across the 3M abandoned sites in the US. Next, do the rest of the world.

Faaak 2y ago
> I have no background here, but [...] Indeed
- azinman2 2y ago
  Do you? You have knowledge that the problem is literally unsolvable any other way?
  - deleted 2y ago
    [deleted]
- _fs 2y ago
  What was the point of this reply? The tech startup world has been taking an outsiders look at problems in an attempt to solve them in a novel way for the past 30 years. Maybe this is not the web site or discussion forum for you if you want to disparage people for thinking outside the box.