Study: Ohio's driller bonding requirements leave public to pay for cleanup

07/24/2013 | American City Business Journals

Ohio's $5,000-per-well bonding requirement for oil and natural gas drillers is too low, leaving the public financially responsible for cleanup costs related to hydraulic fracturing, according to a study by the Environment Ohio Research & Policy Center. The state should mandate bonds of at least $250,000 per well to pay for reclamation and plugging and of $5 million or more per well for any resulting property, health or environmental damage, the group said. The Ohio Petroleum Council said that bonds indicate a company's financial means and aren't meant to cover "every conceivable incident."

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