TheGentYYCFeb 11, 2023

Here's the prime #OrphanOilwell problem as I understand it: #BigOil (which has all the $ in the world) "sells off" spent oilwells to small companies going bankrupt & who could *never* afford cleanup in the first place. This from an industry claiming to produce #EthicalOil.

It's the same bunch of crooks that'd like us to trust them on #CCS and think Canada should give them billions. Just ask the enormous liars at
#PathwaysNetZero.

#abpoli #ableg #cdnpoli #OILigarchy

https://www.cbc.ca/news/canada/calgary/alberta-orphan-wells-cleanup-bill-12-1.5528257

OPINION | On orphan wells, dine-and-dash should not be the business model | CBC News

For decades, conservative governments in Alberta allowed oil and gas companies to pump profits into their pockets before dumping the mess on others.

CBC
Show threadPatFeb 11, 2023

@TheGentYYC

#abpoli #ableg #cdnpoli

#OILigarchy#abpoli #ableg #Cdnpoli

The economic impact pf Alberta assuming clean up costs , for uninsurable environmental damage, is an overstating of oil profits as taxpayers assume billions in accrued and accruing costs in deferred liabilities. If someone else pays your bills you must surely profit.

Show threadPat

@TheGentYYC #abpoli #ableg #cdnpoli

#OILigarchy#abpoli #ableg #Cdnpoli

For the record, the insurance front clean up scam set up by the Alberta Govt , that touts private industry and decries insurers ,would be closed down as insolvent if a private insurer.

Feb 11, 2023 at 6:00pmWeb
Show threadPatFeb 11, 2023

@TheGentYYC #abpoli #ableg #cdnpoli

#OILigarchy#abpoli #ableg #Cdnpoli

If I am to bitch I am compelled to offer a solution,& the answer is well known.

Who has had an ins claim denied in Cda because a company went bankrupt ? Ins companies chip in to a fund in case this happens. This was what the Alberta Abandoned Well Fund , Damage Deposit, was to be, but premiums for polluters were pardoned & none paid , & companies run away.

Solution:

Collect the pollution premium. No free ride

Show threadTheGentYYCFeb 11, 2023
@PBruce Sounds good to me, Pat
Show threadPatFeb 11, 2023

@TheGentYYC

You know when we get past all the BS Alberta has contributed greatly to Canada and is simply repeating the same mistake all Provinces have made/make, on a larger ,more public scale.

But,ultimately we will all pay for clean up. So the time is past for petty manufactured divisions .My family don't just live in one Province, & we all have the same passport . We also all ,whether intentionally or not , benefited economically from the destruction & still do