In-ground Oil Tanks

INGROUND OIL TANKS

An in-ground oil tank can obviously be an environmental concern. If the oil tank is leaking it will be your responsibility to remove ALL the contaminated soil regardless of how much soil must be removed. If the contaminated soil goes underneath the foundation of your home or your neighbor’s home, the process for removing the contaminated soil becomes much more complex because the foundation must be supported as the soil is removed. This is known as “under pinning”.  In addition, all of the soil is considered a contaminated material in must be disposed of properly. The implications of an oil leak in the ground are huge. Oil leaks can cost hundreds of thousands of dollars in remediation efforts.

Fortunately, for Long Island Home Inspection, the authorities have made it quite easy to have an oil tank abandoned in place. It simply requires contracting with a company that is licensed to deal with oil tanks and having them perform the abandonment. The abandonment includes removal of the oil in the tank, and then filling the tank with either sand, foam or concrete. Then, all of the pipes are removed and you receive paperwork evidencing that the tank was properly abandoned. Keep this paperwork on file for future proof that the work was done properly. It’s as simple as that. Typical abandonment costs range from $800-$1,500 depending on the size of the tank. At that point, you either install another oil tank or convert to gas. A new oil tank can be installed above ground or in the basement. You can even have an oil tank put back into the ground but it must be Fiberglas and is typically guaranteed for 30 years.

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