[ No headline ]

Oil field theft is costing American consumers 17 cents out of every dollar they pay at the gas pump.

So says Joe Dickerson, president of the Corporate Asset Protection Services. The problem has boomed in last few years as rising world oil prices dramatically increased the value of oil and the equipment used to discover and produce it.

Included in the 17 cent figure are not only the direct costs, such as replacing stolen oil field equipment, but also indirect costs like the expense of resulting drilling delays and related detective and legal fees.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK