To the editor:
SDPB reported a story last week on the “generous” offer of a $190,000 bond on 19 natural gas wells when the state was only asking for $100,000.
Has the state government lost its mind?
These 19 wells were abandoned by the previous mining company following the typical recipe of filing bankruptcy to avoid liability. So, the people of South Dakota paid $300,000 to cap just over half of the 19 mines according to SDPB. That comes to roughly $30,000 per well.
The state seems pleased with this ridiculous offer. I have a better idea.
Since we don’t know how much the price of capping a well may have risen we should ask for no less than $30,000 per well. Plus, given the industry’s past behavior, a generous amount for punitive measures.
The people should no longer be left holding the bag!