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The worst part is that private companies make the profit while tax payers clean up the mess. Reverse socialism at its worst.


It is a synthetic problem of the commons: they can incur expenses that someone else pays off. As you're hinting, it'd be trivial to shift the incentives via taxes, clean up liability etc.

A similar problem exist with the petroleum economy vs climate change.

And a third case is that the residents near the oil filed bear the burden while the benefits, both huge and trivial, are gained by individuals far away.

Each of which would be addressed if the distribution of power were different.


How will tax payers clean up the mess ? What do you mean by it ?


Many of the extraction companies will eventually go bankrupt and liquidate, leaving toxic waste sites behind. Then the government ( funded by taxpayers) will have to step in and clean up the mess.


You profit. You pay far lower gas prices than in Europe for example. You also pay less for products. You benefit from cheap, plentiful oil, regardless of who “profits.”


The fuel prices in Europe are like that mostly because of taxes.

In e.g. Italy, where the taxation is especially heavy when oil prices halved gasoline went down 30% at best.




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