The Impact of Leaking Oil Tanks

The environmental consequences of leaking residential oil tanks are a subject of controversy. There is little doubt that contaminated soil in an area which uses an aquifer for drinking water can be a great problem. The severity of this problem may also be related to the amount of contamination, soil conditions, depth of the aquifer, etc. There is little doubt that soil contamination can pollute streams and wildlife habitats. We also know that some contamination from abandoned tanks has not spread, and would not have been detected unless the soil was exposed. So here we have another environmental issue which does not lend itself to a simple answer.

But there is little controversy about the financial impact of contaminated soil. Up until recently, most of the concern has been related to commercial properties. In the last few years, this concern has also impacted the use and sale of residential real estate. As a result of these concerns, changes in the market place are occurring, such as, popular alternative fuels (e.g. natural gas) have received an extra boost, more and more soil testing is being performed as a part of real estate transactions, and new businesses have been started to address various facets of this issue (e.g. tank and soil mitigation services).