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Most of Alberta’s energy wells no longer hold enough oil and gas to pay for their cleanup and the public should take them over to ensure their remaining revenue funds remediation, a new report concludes.
“It is a radical idea,” said Regan Boychuk of the Alberta Liabilities Disclosure Project, which produced the report. “It is something akin to nationalization.”
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Using data from the Alberta Energy Regulator released under Freedom of Information legislation, the report estimates the overall cleanup cost for the province’s 300,000 unreclaimed wells at somewhere between $40 billion and $70 billion a figure that doesn’t include infrastructure such as pipelines or pumping stations.
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