`
California’s Assembly Bill No. AB 1167 (AB 1167) required full-cost financial assurance upon the transfer of low-producing oil wells. The result has been to curtail the transfer of low-producing wells that likely posed greater risk of operator defaults to the State of California. Comparing transfers prior to the bill and after its implementation reveal a stark contrast – from over 1,300 wells in the first half of 2023, to just six wells in 2024.
'
#abpoli #canpoli
https://carbontracker.org/reports/closing-the-oil-well-transfer-loophole/
Andrew Henry
npub1ck…eg7rv
2025-05-21 00:41:47 UTC
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wss://relay.momostr.pinkPublished at
2025-05-21 00:41:47 UTCEvent JSON
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"content": "`\n\nCalifornia’s Assembly Bill No. AB 1167 (AB 1167) required full-cost financial assurance upon the transfer of low-producing oil wells. The result has been to curtail the transfer of low-producing wells that likely posed greater risk of operator defaults to the State of California. Comparing transfers prior to the bill and after its implementation reveal a stark contrast – from over 1,300 wells in the first half of 2023, to just six wells in 2024. \n\n'\n#abpoli #canpoli \n\nhttps://carbontracker.org/reports/closing-the-oil-well-transfer-loophole/",
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