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Bob Weber
An oil worker holds raw sand bitumen near Fort McMurray, Alta., on July 9, 2008. THE CANADIAN PRESS/Jeff McIntosh May 07, 2021 - 8:51 AM
EDMONTON - Last year s dive in oil prices has caused Alberta to change how it calculates the payments oilsands mines make to ensure there s enough money to clean up the mess they leave behind. The interim solution we re putting in place addresses the impact of this temporary drop, said Lisa Fairweather of Alberta Environment and Parks, the department that manages the mine security program
The program is intended to make sure the industry pays for its own cleanup when oilsands mines close. Companies make annual payments into a fund held by the province.
Alberta eases security payment burden for oilsands companies
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An oil worker holds raw sand bitumen near Fort McMurray, Alta., on July 9, 2008. THE CANADIAN PRESS/Jeff McIntosh
EDMONTON – Alberta is changing how it calculates the payments oilsands mines make to ensure there’s enough money to clean up the mess they leave behind.
The province says the decision is in reaction to low oil prices last year, which briefly reached negative values.
Lisa Fairweather of Alberta Environment says keeping the old program would have cost the industry billions of extra dollars, even though the environmental risk of the mines hasn’t changed.
Alberta eases security payment burden for oilsands companies
by The Canadian Press
Last Updated May 6, 2021 at 2:44 pm EDT
EDMONTON Alberta is changing how it calculates the payments oilsands mines make to ensure there’s enough money to clean up the mess they leave behind.
The province says the decision is in reaction to low oil prices last year, which briefly reached negative values.
Lisa Fairweather of Alberta Environment says keeping the old program would have cost the industry billions of extra dollars, even though the environmental risk of the mines hasn’t changed.
She says today’s move is temporary until a complete review of environmental security payments is held this summer.