How does Koch industries get rid of its environmental liabilities for its oil wells? Have you heard of fraudulent conveyance?
Once the economic value of the wells is gone they are spun off to smaller corporations. So, all the money from new wells goes to Koch Industries. Then they dump them.
Once the economic value of the wells is gone they are spun off to smaller corporations. So, all the money from new wells goes to Koch Industries. Then they dump them.
Comments
"Nevertheless, the commission approved the transfer to KT Resources in August 2021. KT Resources was incorporated in 2021 with its registered address, a home on the 16th green of the University of Denver Golf Club at Highlands Ranch."
All part of the plan. They will take the profits, leave the cleanup and they will do it with the help of regulators from CO and CA to ND and Texas.