It Will Cost Up to $21.5 Billion to Clean Up California’s Oil Sites. The Industry Won’t Make Enough Money to Pay for It.

From Propublica (18-May-2023).

When you add externalities into the cost of fossils fuels, it’s not remotely close to a profitable business.

Cleaning up, plugging and decommissioning California’s old gas and oil wells will cost an estimated $21 billion, three times the industry’s projected future profits. And those costs don’t include cleaning methane and carbon dioxide from the atmosphere.

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