Here's another tiny indication that regulation of the oil industry isn't quite what it should be: The Associated Press reported this week that "more than 3,200 oil and gas wells classified as active lie abandoned beneath the Gulf of Mexico, with no cement plugging to help prevent leaks that could threaten the same waters fouled by last year’s BP spill." How's that for a mind-blower? The AP correctly points out that these wells "...likely pose an even greater environmental threat than the 27,000 wells in the Gulf that have been plugged and classified officially as 'permanently abandoned' or 'temporarily abandoned.' " These are not idle wells awaiting their next use. These, according to the AP report, are wells that have not been used in at least five years, and there are no plans to restore them. If you're asking, like I am, what the hell is going on here? You're not going to like the answer – Oil companies, like BP, claim they are in no way obligated to make these abandoned wells safe because their leases are still valid. This, of course, is complete and utter B.S. Over the last 20-odd years, I've sued companies for posing this same type of environmental threat to ...
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