U.S. oil and gas companies have increasingly moved towards bankruptcy—particularly in recent months—amid a global price war and the spread of the COVID-19 pandemic, reducing demand. It is possible that nearly 250 oil and gas companies may file for bankruptcy protection by the end of 2021. This market crisis may soon bring about, and be further compounded by, a costly environmental crisis involving abandoned hydraulic fracturing wells.
Abandoned wells often leak gases, such as methane, that pollute and warm the planet. Preventing water contamination or …Continue Reading