Alberta’s plan would provide $20-billion in royalty credits for companies to clean up abandoned wells, which they are already legally required to do
Alberta’s abandoned oil and gas wells have become an intractable problem, with some sitting idle for decades and no clear path to cleaning them up. Estimates of the sum of money it would take to resolve the issue have ranged from more than $1-billionThe province’s abandoned wells have fuelled persistent complaints that oil and gas producers have ignored their legal obligation to clean them up, and that the provincial government isn’t making them.
She has hired a former lobbyist named Kris Kinnear to work in her Southern Alberta office. Mr. Kinnear was previously a lobbyist with the Sustainable Alberta Energy Network, which has pushed the credit idea for years. Scotiabank noted that the biggest beneficiaries of the potential program would be Canadian Natural Resources, Ltd., Cenovus, Whitecap and Paramount, adding it’s unlikely the pilot program would lead to increased drilling activity.
Ms. Smith defended the proposal, which she said would target “the worst wells in Alberta.” After so long without any progress, she argued, it’s time to try something new.
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