Yes, the restaurants have a contract with a waste oil processor. The oil gets picked up and is used to make soap, cosmetics, biodiesel, or other products.
I'm not sure what the restaurant gets paid for it, probably not a lot, they may even have to pay for the service like they do for trash dumpsters. But unlike trash, the oil has a value so they probably do get paid a little bit.
They are also legally required to dispose of waste cooking oil properly. It's not toxic per se, but you can't just dump it down the drain.
> but you can't just dump it down the drain
The search keyword is the day is "fatberg".
>It's not toxic per se, but you can't just dump it down the drain.
That's what the gutter is for: https://m.youtube.com/watch?v=zrv78nG9R04
Read the article.
This is an organized crime thing, apparently there's a chinese mob?
These people were stealing oil from restaurants and selling it to downstream users for industrial uses (making biodiesel is one)
Google suggests at about $0.5 per gallon
Sounds like regulatory overreach attacking small businesses and innovation.
Seriously though, what's the usual lifecycle for those waste oil tanks? Will the owner sell the contents to a recycler when it's full?