ICYMI: Alberta premier defends new plan to fund orphan well cleanup ableg abpoli
The province is considering a program to incentivize oil companies cleaning up about 170,000 inactive well sites in Alberta, many of them decades old. The Liability Management Incentive Program would make $100-million available for companies to credit against royalties for cleaning up these sites.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
She said the worst sites are the 4,300 flare pits across the province which have sat abandoned for upwards of 60 years, largely due to the environmental liability. He also said the land property rights tribunal has begun to cut back on the amount of compensation landowners are receiving for having orphaned wells on their property. Bennett said landowners had been receiving about $3,000 per well per year from the Orphan Wells Association, but with the passing of the Red Tape Reduction Act, owners have begun to be informed by the tribunal that compensation is dropping sometimes by as much as $2,000 per well.
The program was previously called RStar and was pushed by Smith when she was a lobbyist with Alberta Enterprise Group. She said on Saturday that she has heard for 25 years about the problems of getting these bad well sites cleaned up. According to The Canadian Press, Smith quoted a consultant who says $20 billion in RStar credits would create 366,000 jobs and $8.5 billion in royalties, a forecast debated by analysts.
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Alberta sees minor rise in unemployment in January, Calgary’s jobless rate remains highest in provinceAlberta's unemployment rate climbed ever-so-slightly last month, as did unemployment rates in the province's largest cities.
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