SIGN NOW: Make Big Oil pay to clean up offshore drilling
A whole flock of Congressional climate hawks have introduced H.R. 9034, the Offshore Leasing Standards and Accountability Act, which would make Big Oil, not taxpayers, put up the money to cleanup offshore drilling equipment.
The bill would amend the Outer Continental Shelf Lands Act to strengthen oversight of offshore oil and gas drilling equipment with tighter standards, regular inspections, and limits on abandoned wells. Crucially, the bill also requires drillers to put money in escrow to clean up their drilling sites. This will ensure big oil, not taxpayers, bear cleanup costs.
The climate hawks’ bill is introduced as Big Oil companies are generating record profits due to Trump’s war in Iran and lavish subsidies here at home. But our offshore waters are littered with a growing inventory of abandoned wells and aging offshore infrastructure that puts our ocean and coastal communities at risk of leaks, spills, and more.
Instead of paying to clean up their own mess, oil and gas companies are abandoning infrastructure in our ocean, leaving American taxpayers on the hook for clean up costs. In the Gulf of Mexico alone, more than 75% of old infrastructure — more than 2,700 wells and 500 platforms — are overdue for decommissioning.
Current cleanup costs are estimated between $40-70 billion, but the Department of the Interior holds only about $3.5 billion in company bonds, leaving American taxpayers on the hook for tens of billions in cleanup costs.
Use this page to send a message to Congress to protect taxpayers, our coastal environment, and our climate by making Big Oil pay to clean up abandoned and idle offshore infrastructure.