EDMONTON — Alberta’s energy minister says the current spike in oil prices isn’t enough reason to require the industry to spend more on cleaning up the tens of thousands of abandoned oil and gas wells in the province.
Sonya Savage says the province’s recently adopted plan to fix the problem, which requires industry to spend $422 million next year and slightly more after that, is a fair and balanced approach.
She says it takes into account the industry’s current troubles and its expected future growth.
Oil prices have spiked to $80 a barrel and are expected to climb higher.
Some industry analysts have said the profits those prices will generate should help fund the cleanup of nearly 100,000 abandoned wells in Alberta, a project that will cost tens of billions of dollars.
Experts like Sara Hastings-Simon at the University of Calgary’s School of Public Policy say this may be Alberta’s last chance to get the money from industry.
But Savage says current spending requirements will make a meaningful difference and could be increased two years down the road.
This report by The Canadian Press was first published Oct. 8, 2021.
The Canadian Press
- 0098 SASPO-2874_Self Serve Campaign_New Connects_Youtube_v30098 SASPO-2874_Self Serve Campaign_New Connects_Youtube_v3
- 0100 Turnbull Project Manager0100 Turnbull Project Manager
- 0099 Mryglod Steel 1080p0099 Mryglod Steel 1080p
- 0097 Eagle Sky Ventures LTD0097 Eagle Sky Ventures LTD
- 0095 Fast Trucking nearly 70 years good at it0095 Fast Trucking nearly 70 years good at it
- 0053 Kingston Midstream Westspur Alameda Click Before You Dig0053 Kingston Midstream Westspur Alameda Click Before You Dig
- 0092 Turnbull projects big and small0092 Turnbull projects big and small
- 0046 City of Estevan This is Estevan Teaser0046 City of Estevan This is Estevan Teaser
- 0087 Lori Carr Coal Expansion0087 Lori Carr Coal Expansion
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0076 Latus only0076 Latus only
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0006 JK Junior
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001