Inactive wells are posing health and safety risks and lowering land values, say experts who add the $260-billion problem will only grow if not addressed now.
There’s something missing from our election debate—and in sheer dollars, it may be the biggest single issue that has ever faced this province.
Last fall, a groundbreaking investigation revealed the Alberta Energy Regulator’s internal estimate of Alberta’s true oilfield cleanup costs: $260 billion.
Let that sink in, $260 billion. The same as Alberta’s entire provincial budget through 2025. A staggering five times higher than they had publicly reported up to that point.
Compare that to the $1.6 billion—or 0.6 per cent of the cost—currently being held by the province as a deposit for those cleanup costs, and we have a massive ticking time bomb on our hands. A time bomb with devastating impacts on the people and communities that call Alberta home.
Who is going to pay for this cleanup? And by when?
Right now in Alberta, there...