Submitted by geoxol t3_10mxvt4 in technology
Comments
peter-doubt t1_j65tfqe wrote
Can bankruptcy shield them from taxes? If not, tax them with a rebate if they do their own work.
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.
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.
whyreadthis2035 t1_j669pnw wrote
They restructure, lay a few thousand people off and report record profits within 2 years.
farkwadian t1_j66l34e wrote
Presumably according to capitalist theory it will go to the highest bidder.
LivvyByrdsong t1_j66oco6 wrote
We finally switch to wind, wave and solar power, and slow down down climate change?
Speculawyer t1_j66tsuf wrote
People don't buy liabilities.
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.
afishda t1_j66ygi1 wrote
Good old capitalism only stands for today's profits!
[deleted] t1_j66yrgd wrote
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Formula_Unn t1_j6796l2 wrote
They win the award for dumbest company/Persons on the planet! I mean how? How?
[deleted] t1_j67bror wrote
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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.
Deadmist t1_j67lhum wrote
You can tax them all you want, if they have no money you aren't getting anything.
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.
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.
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.
afishda t1_j6915o1 wrote
The Welfare state!
peter-doubt t1_j69hfjc wrote
They can't sell anything either... Until back taxes are paid
Formula_Unn t1_j69m57a wrote
They literally already have all of the money
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.