Two-thirds of the province’s nearly half a million oil and gas wells are not producing, and the province would face a financial and environmental catastrophe unless the problem is addressed, according to recent analysis
from the University of Calgary’s School of Public Policy concluded that the province would face a financial and environmental catastrophe unless the problem is addressed.
“We have to figure out: How do we make sure that companies at the moment that have a huge unfunded liability – but don’t have assets to be able to support it – what are we going to do about that? It’s a big question. We can’t just keep carrying it forward into the future,” she told media at the International Pipeline Conference and Expo in Calgary.
which would provide incentives to fossil-fuel companies to clean up their inactive wells. Critics labelled it a royalty giveaway that would compensate industry for work it is mandated to do.
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