Taxpayers May Be Liable for Oil Cleanup
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Bonds posted by companies with federal oil and gas leases cover only a small fraction of the projected costs of plugging wells and restoring land once the fuel is extracted, leaving taxpayers with the potential for huge cleanup bills, an Associated Press analysis of federal records shows.
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Petroleum spas are making an unlikely return in a country so awash in oil these days that people are swimming in it.
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U.S. consumers are expected to pay record prices for heating oil, electricity and propane to warm their homes this winter, and low-income families will need government help to cover those bills, government energy officials said on Tuesday.
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The Department of Energy issues a report detailing how continuing the current energy policy will increase our oil dependence for decades to come. In Autopia.
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OVERLAND PARK, Kansas  - Kansas officials said on Monday they were trying to contain damage from a significant oil refinery spill that occurred over the weekend as raging floodwaters wreaked havoc through the southeast part of the state.
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The U.S. Congress comes back to town  next week to sift through the pieces of the latest oil patch  disaster -- pipeline corrosion that threatened to shut down the  giant Prudhoe Bay oil field in Alaska.
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By Sammy Fretwell, The State, Columbia, S.C.  Jun. 18--Despite federal warnings, the state has not set aside enough money to clean up leaks from buried petroleum tanks that threaten drinking water across South Carolina.
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Victims of a toxic waste spill in Ivory Coast are to be compensated but most of the money stays in state hands.
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By Hank Shaw, The Record, Stockton, Calif.  Sep. 7--SACRAMENTO -- An Alaskan oil services company under federal  investigation in connection with allegations of influence peddling has  contributed nearly $18,000 to Rep.
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A proposal to hit oil companies with $29 billion in new taxes advanced in the Senate on Tuesday, targeting the money to energy conservation, wind turbines, electric hybrid cars and clean coal technology.
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For most taxpayers, the IRS isn't the only game in town.
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By BEN EVANS WASHINGTON - Four lucky states were slated to share billions in potential royalties courtesy of an offshore drilling expansion signed into law last year, money that could help reverse decades of environmental damage from coastal industry.
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By Andrew Foxwell, Financial Mail on Sunday, London  Feb. 4--Insurers and businesses must pool their resources to tackle the  rising cost of environmental liability claims, a leading insurance broker has  said.
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The U.S. Congress comes back to town   next week to sift through the pieces of the latest oil patch   disaster -- pipeline corrosion that threatened to shut down the   giant Prudhoe Bay oil field in Alaska.
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By John Craig, The Spokesman-Review, Spokane, Wash.  Jun. 2--Spokane County commissioners may use tax money to pay the delinquent taxes on a solvent-soaked West Plains property they don't want to acquire through foreclosure.
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SEATTLE - State and federal officials on Thursday blamed an aging ConocoPhillips Co. tanker for creating a 1,000-gallon oil spill that tarnished 21 miles of Puget Sound shoreline.
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It may sound like a great gift to receive. But it has tax implications.