PECFA futures, Many gas stations' buried tanks too thin

Nationwide, more than 400,000 leaks from underground tanks have been reported and thousands of properties have been tainted by hazardous fuel spills, according to Environmental Data Resources Inc., a research organization based in Milford, Conn.

Last year, the Government Accountability Office — the investigative arm of Congress — reported it would take at least $12 billion to clean up contamination from tens of thousands of tanks nationwide that are leaking underground.

Linda Young, director of the Clean Water Network of Florida, an environmental advocacy group, said fuel leaks from underground tanks have been common in Florida.

"Some of those have leaked into private wells and drinking water, causing a lot of problems," Young said.

 

Forty-three percent of underground fuel storage tanks in South Florida are out of compliance with a state law requiring gas stations and other owners to upgrade their facilities, a South Florida Sun-Sentinel analysis found.

The law approved by the Legislature 18 years ago requires a double-walled system for underground storage tanks by 2009, an upgrade that helps prevent leaks that could contaminate soil and groundwater.

"This poses a risk for a lot of people," said Adam Kristol, a specialist in petroleum industry sales with Marcus & Millichap, a real estate investment firm based in Fort Lauderdale. "The state cannot afford to gamble with that." Read more here