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
- 0023 LC Trucking tractor picker hiring mix
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0020 Sk Oil Show PO Ad 02 speakers with voiceover
- 0019 Jerry Mainil Ltd hiring dugout
- 0018 IWS Hiring Royal Summer
- 0017 eventworx
- 0016 Estevan Meter Services
- 0014 Buffalo Potash What if PO
- 0015 Latus Viro PO Ad 01
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0009
- 0006 JK Junior
- 0004 Royal Helium PO Ad 02
- 9001
- 0002
- 0001