(InvestigateTV) — This Week on InvestigateTV: The oil and gas industry makes billions of dollars every year, but Kristin Crowley discovers well cleanup costs often fall to taxpayers. And in many cases the people who now own the land the wells are located on never wanted or profited from them.
WHERE TO WATCH ICYMI – Watch last week’s episode.
Drilled and Drained: One of the most profitable industries in the world is passing on a huge cost to American taxpayers with orphan wells. These are oil and gas wells that a company has walked away from. The wells are no longer functioning but can leak hazardous chemicals and pollute the ground, water and air. These wells need to be plugged to prevent those leaks, which the companies are supposed to do. But a lack of regulation means billions of dollars in cost to fix the oil and gas companies’ problem wells actually falls to taxpayers. We spoke with an Oklahoma family feeling this burden firsthand, as an orphan well leaked chemicals directly into their property. They share their struggles with holding someone accountable for a problem they didn’t create – a problem that exists in oil and gas areas across America.
“Liquid Gold” Legacy: Kansas is the ninth-largest oil-producing state, with 27 million barrels of oil produced last year. The industry supports jobs, provides income and generates millions in state and local tax revenue. But the state has identified nearly 5,300 abandoned oil wells that need to be capped – at a cost of 6 to 14,000 a piece. Angie Ricono spoke with a family of farmers about the struggles with capping dozens of poorly documented wells littered across their property.
Abandoned Alaskan Oil Wells: While crude oil is produced in 32 states, according to the latest data from the U.S. Energy Information Administration just five states accounted for nearly three quarters of the country’s total oil production in 2022. Included in that five is our northern-most state – Alaska. Rebecca Palsha takes a look at the staggering costs unique to plugging orphan wells in the largest state.
Watching Your Wallet – Emergency Saving: We know credit card debt is soaring, but now it’s even out pacing what most Americans have set aside for emergencies, according to a new study from Bankrate. In this Watching Your Wallet, Consumer Investigator Rachel DePompa talks to an expert about how to prioritize debt while also saving for an emergency fund.
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