From Rust to Riches

Do you have steel petroleum storage tanks you’ve been needing to remove? Now is the smart time to act! With recent changes in U.S. trade policy and steady scrap steel prices, tank owners can recover value from an unused asset.

In 2025, the U.S. government imposed tariffs on imported steel from nearly all countries. These tariffs have helped drive up the price of US scrap steel as expectations of constrained availability grow. 

As of July 2025, unprepared steel (larger pieces, some with contamination) recycled in Oklahoma could fetch as much as $0.14 per pound.

For example, a 10,000-gallon tank made of carbon steel typically weighs 10,000-pounds. That would currently yield around $1,400 in scrap value. Depending on specific design, underground versus aboveground, some tanks could weigh upwards of 20,000 pounds. 

Recycling unused petroleum tanks not only helps recover some of the removal costs but also meets regulatory requirements for tank destruction. By staying informed and choosing the right recycling partners, tank owners can turn idle infrastructure into a smart financial and sustainable move.

Oklahoma regulations require petroleum storage tanks (aboveground and underground) to be removed by an Oklahoma Corporation Commission (OCC) Petroleum Storage Tank Division (PSTD) licensed remover. As part of the closure procedure, an OCC PSTD licensed environmental consultant must obtain soil samples to determine if a release of product occurred. If you want to discuss removing some of your old tanks, let’s talk! 

To learn more about required tank destruction, use Ctrl + Click to see the following links:

AST Certificate of Disposition or UST Certificate of Destruction.