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afishda t1_j65xo7o wrote

This seems like big oils solution for being responsible for uncapped wells, create a shell company to take over the burden then bankrupt it.

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r3dk0w t1_j66wi9l wrote

This is exactly what happens. The bankrupt subsidiary dissolves leaving the EPA or another government organization to clean up the mess.

We all pay for the cleanup through taxes and the oil companies get all of the benefits through profits and lack of responsibility.

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afishda t1_j66ygi1 wrote

Good old capitalism only stands for today's profits!

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l4mbch0ps t1_j690vh1 wrote

Literally what the Koch brothers just did to the tune of billions, at the cost of future taxpayer funded cleanup.

Moving money from public pockets into private pockets is the biggest grift there is.

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Heres_your_sign t1_j65ssgo wrote

This is likely intentional, although it would be damn hard to prove. We the people will be on the hook for this. Guaranteed.

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peter-doubt t1_j65tfqe wrote

Can bankruptcy shield them from taxes? If not, tax them with a rebate if they do their own work.

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Deadmist t1_j67lhum wrote

You can tax them all you want, if they have no money you aren't getting anything.

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peter-doubt t1_j69hfjc wrote

They can't sell anything either... Until back taxes are paid

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pmjm t1_j687ygv wrote

Even if unintentional. We need laws on the books that put executives in jail when they create and abandon an ecological disaster like this.

You can bet they'd find the money if they faced actual consequences.

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bitfriend6 t1_j661qgq wrote

Pollution will continue leaking into groundwater, causing nasty birth defects and paranoia that prevents local municipalities from successfully reproducing. They will die off and nature will reclaim them. Despite this, people will continue whining about how scary nuclear waste is even as they're drinking plastic sludge made from rejected oil deemed unfit to be burned as fuel.

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whyreadthis2035 t1_j669pnw wrote

They restructure, lay a few thousand people off and report record profits within 2 years.

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LivvyByrdsong t1_j66oco6 wrote

We finally switch to wind, wave and solar power, and slow down down climate change?

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ahfoo t1_j67dekx wrote

More like the tariffs on solar are raised once again to bail out the oil sector yet again.

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farkwadian t1_j66l34e wrote

Presumably according to capitalist theory it will go to the highest bidder.

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Formula_Unn t1_j6796l2 wrote

They win the award for dumbest company/Persons on the planet! I mean how? How?

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pmjm t1_j687r89 wrote

It's not dumb, it's deliberate. Pay your executives crazy salaries and bonuses by raiding the company coffers and driving it into the ground, then let the taxpayer clean up the mess after you've made your money.

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