Don’t allow any company to operate unless they have a fund sufficient to close their wells in case of bankruptcy.
Companies fail. Some accountants are so sure of this they make a living picking up the pieces. Regulators should also not assume success.
Yup, make them prepay for their cleanup. The fund would need to be held in an account earmarked specifically for that well, inaccessible for anything else (maybe held in trust or something).
Without investing that money It won’t be enough to close it by the time it was ready.
It’s better to make new wells pay to clean the old ones before they can start.
The orphan wells fund exists.
It’s just underfunded and overwhelmed
Are you kidding? That would hurt their business way too much. We can’t allow that.
Let’s use taxpayer money to pay for this instead. /s
I see the sarcasm. To build on that, their business is not more important than yours and mine.
The supreme court ruled that if they do go bankrupt the funds to clean up the site are paid before the banks. But suprise suprise, Alberta has done nothing to deal with that decision. Absolute scum in charge.
And Marlaina will sit on her ass and do nothing about it … again.
