Oil Fields Become a Zombie Nest, USA Suffers IDR 4,359 Trillion Losses

2024-08-19 14:58:49

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Abandoned US oil fields or so-called zombie wells are a threat to the environment. PHOTOS/seekingalpha/Arseny45

Jakarta – Economy United States of America (US) from oil and gas growing rapidly despite having a smaller workforce in 2024. This year alone, the United States has produced large amounts of oil touching 13.2 million barrels per day (bpd) an increase of 2.4% from 12.9 million bpd last year.

This increase boosted the US economy and helped it achieve higher Gross Domestic Product (GDP) figures. While that was on the bright side, his underside remained dark, something America could not ignore.

The oil industry contributes billions of dollars in revenue to the US economy but also brings losses of USD 280 billion or IDR 4,359 trillion. By 2024 thousands of abandoned oil wells are scattered across the vast state of Texas.

Abandoned oil fields commonly known as ‘zombie wells’ are an environmental threat that can endanger public health and safety.

Oil wells have been abandoned for years as the workforce in this sector dwindles. This caused the owners to incur losses which forced them to close.

The latest report from the US Department shows that USD 280 billion must be allocated to clean up abandoned oil wells even though the oil sector generates billions in taxes, causing significant losses to the US economy.

“These abandoned polluted sites are a danger to the environment,” said the US Department of the Environment, quoted by WatcherGuru, on Monday (19/8/2024).

“They endanger public health and safety by polluting groundwater, emitting dangerous gases like methane, littering the landscape with rusty and dangerous equipment, creating risks from flooding and sinkholes, and endangering wildlife.”

Reuters reports that over the past two years, the number of abandoned wells that have started spewing or even gushing hot water like geysers, creating lakes full of salt and chemicals, or creating sinkholes has increased. Thus, the US oil industry contributes to the economy but also erodes it.

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