Underground Oil Tanks
Underground Oil Tanks
Over the last few years concerns about buried residential heating oil storage tanks (underground oil tanks) have been growing. These types of tanks have been used in Canada for over 60 years - though most are now abandoned. The problem with the underground tanks is that they pose fire and explosion risks, as well as environmental concerns of contamination of soil and groundwater. For this reason, removal of such tanks requires expertise and care and can be very costly (often upwards of $10,000). Legislation regarding the removal of these tanks varies from municipality to municipality, but if you suspect your property or a property you are interested in purchasing may contain an abandoned underground oil tank, you should have it tested. Your REALTOR® can provide you with a list of names of oil tank testers/removal specialists and more information.