Let's make Big Oil pay in advance!
When Big Oil is forced to pay for their disasters, the environment has a much better chance to recover. Twenty-seven square miles of wetlands along the Texas coastline have been preserved using funds from the 2010 BP Deepwater Horizon catastrophe. The Texas Parks and Wildlife Foundation recently purchased the 17,000 acre Powderhorn Ranch using about $38 million dollars from BP's fines and other conservation group funding.
That purchase will protect the salt marshes, oak forests, and pristine wetlands of Texas's coastline, and it will provide a buffer for storm surge and sea level rise that pose a threat to that state. The Wildlife Foundation had been trying to purchase the land for over three decades, but was unable to raise the funding until BP was forced to pay.
This is exactly why it's so important to prevent corporations from privatizing gains and socializing losses. So many of the natural disasters caused by the fossil fuel industry have been left to taxpayers to clean up, and it was only the massive scale of the BP spill that prompted large fines and settlements.
When we divert tax dollars to clean up a corporation's mess, we make that funding unavailable for other important functions. By forcing Big Oil to pay for their disasters, we are able to clean and protect our environment without depriving our government of the tax dollars needed to operate. And, we raise the cost of business for the fossil fuel industry, and force them to do more to prevent another disaster.
Texas's newest wildlife preserve is proof that fining oil companies can be a success, but we shouldn't wait until the next disaster to make Big Oil pay up. Let's make them pay in advance for the destruction they cause by instituting a tax on carbon. To find out more, check out our new video “Carbon” at GreenWorldRising.org.