Albertas oil and gas liabilities crisis And what you can do about - PowerPoint PPT Presentation

Alberta’s oil and gas liabilities crisis And what you can do about it Regan Boychuk, Lead Researcher Alberta Liabilities Disclosure Project

>450,000 1,500 wells in One for every Conventional urban areas. ten people oil & gas wells 10% of them leak in Alberta

>3,000

The two most important questions How much will Who’s the going to cleanup pay for it? cost?

Let’s start with the second one How much will Who’s the going to cleanup pay for it? cost?

The answer is clear … as mud How much will Who’s the going to cleanup pay for it? cost?

In theory, it’s crystal clear Polluter Pays Principle At the heart of our energy laws When companies signed on to drill, they signed on to clean it up

In practice, not so much Polluter Pays Principle At the heart of our energy laws When companies signed on to drill, they signed on to clean it up

If industry doesn’t pay for its cleanup, you do.

Now let’s talk about the price tag How much will Who’s the going to cleanup pay for it? cost?

The good news is we have that data

Here’s what ALDP learned $40-70 BILLION cleanup cost

Liability estimates for all wells in Leduc County In practice, not so much $ 538.6 million $ 883.6 million $1.2 billion

Compared to what AER has collected for all of Alberta In practice, not so much $ 538.6 million $ 883.6 million $1.2 billion $227 million

The consequences go beyond dollar costs Serious health Missing ~4,000 Inability to risks from jobs and $800 farm or leaking wells million in develop economic activity affected land

ALDP’s data can help: ● Location of each well ● Wells near water ● Wells near agricultural land ● Liabilities by company ● Job creation / GDP potential

Let’s talk about what you can do

Connect with other municipalities

Connect with landowners

Update the tax arrears list for your county

Explore policy options to mitigate upcoming loss in property tax revenue

Talk to your MLAs about this situation

Thank you! Let’s stay connected ALDPcoalition@gmail.com Regan Boychuk, Lead Researcher Alberta Liabilities Disclosure Project