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Alberta’s oil and gas liabilities crisis
And what you can do about it
Regan Boychuk, Lead Researcher Alberta Liabilities Disclosure Project
Albertas oil and gas liabilities crisis And what you can do about - - PowerPoint PPT Presentation
Albertas oil and gas liabilities crisis And what you can do about - - PowerPoint PPT Presentation
Albertas 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
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>450,000 Conventional
- il & gas wells
One for every ten people in Alberta 1,500 wells in urban areas. 10% of them leak
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>3,000
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The two most important questions
How much will the cleanup cost? Who’s going to pay for it?
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Let’s start with the second one
How much will the cleanup cost? Who’s going to pay for it?
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The answer is clear … as mud
How much will the cleanup cost? Who’s going to pay for it?
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Polluter Pays Principle
At the heart of our energy laws
When companies signed on to drill, they signed on to clean it up
In theory, it’s crystal clear
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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
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If industry doesn’t pay for its cleanup, you do.
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Now let’s talk about the price tag
How much will the cleanup cost? Who’s going to pay for it?
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The good news is we have that data
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Here’s what ALDP learned
$40-70 BILLION
cleanup cost
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In practice, not so much
Liability estimates for all wells in Leduc County
$ 538.6 million $ 883.6 million $1.2 billion
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In practice, not so much
Compared to what AER has collected for all of Alberta
$ 538.6 million $ 883.6 million $1.2 billion $227 million
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The consequences go beyond dollar costs
Serious health risks from leaking wells Inability to farm or develop affected land Missing ~4,000 jobs and $800 million in economic activity
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ALDP’s data can help:
- Location of each well
- Wells near water
- Wells near agricultural land
- Liabilities by company
- Job creation / GDP potential
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Let’s talk about what you can do
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Connect with other municipalities
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Connect with landowners
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Update the tax arrears list for your county
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Explore policy options to mitigate upcoming loss in property tax revenue
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Talk to your MLAs about this situation
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Thank you! Let’s stay connected
ALDPcoalition@gmail.com
Regan Boychuk, Lead Researcher Alberta Liabilities Disclosure Project