3 ms·

Well the problem, which is well documented is that the owners of the wells have no incentive to close down a non profiting well. So instead they are abandoning

by 14 5y ago

Well the problem, which is well documented is that the owners of the wells have no incentive to close down a non profiting well. So instead they are abandoning them. So yes taking decades to close a well is a problem. The money to close them down should be put upfront so the minute they are no longer needed they get shut down in a timely manner. This is a problem that will be dumped on future generation of kids. I assume you don't have any kids or this would definitely concern you. The rate of wells is accelerating not declining. But thank you for confirming my first post that Albertans are in denial.

refurb 5y ago
Looks like the issue is being addressed. Regardless, the company was always responsible for clean up. https://globalnews.ca/news/8416893/alberta-regulator-oil-gas-wells-rules/ https://globalnews.ca/news/8416893/alberta-regulator-oil-gas... Far bigger issues to deal with and some abandoned wells in the middle of nowhere. If my kid can’t afford to put a house over their head or feed their family I’m not sure I care much some abandoned wells.
- 14 5y ago
  That is far from addressing the issue. They are putting 4% of liability down. That won’t even keep up with current inflation and like your article states will still take 25-30 years. Critics in the same article don’t believe their assessment is correct and that the cost will be much higher and as with every project the costs are always much higher. If market crashes where will they come up with the other 96%? This is all based on best case scenario. Also stated in the article only if no new wells are created in the mean time will this take 25-30 years. If the problem was addressed it would not be a 30 year problem.
  - refurb 5y ago
    The wells aren’t doing any harm sitting dormant as long as they get cleaned up eventually. The US has a ton of superfund sites it’s still making progress on. Don’t make a mountain out of a molehill.

by 14 5y ago

refurb 5y ago

Looks like the issue is being addressed. Regardless, the company was always responsible for clean up. https://globalnews.ca/news/8416893/alberta-regulator-oil-gas-wells-rules/ https://globalnews.ca/news/8416893/alberta-regulator-oil-gas... Far bigger issues to deal with and some abandoned wells in the middle of nowhere. If my kid can’t afford to put a house over their head or feed their family I’m not sure I care much some abandoned wells.

14 5y ago
That is far from addressing the issue. They are putting 4% of liability down. That won’t even keep up with current inflation and like your article states will still take 25-30 years. Critics in the same article don’t believe their assessment is correct and that the cost will be much higher and as with every project the costs are always much higher. If market crashes where will they come up with the other 96%? This is all based on best case scenario. Also stated in the article only if no new wells are created in the mean time will this take 25-30 years. If the problem was addressed it would not be a 30 year problem.
- refurb 5y ago
  The wells aren’t doing any harm sitting dormant as long as they get cleaned up eventually. The US has a ton of superfund sites it’s still making progress on. Don’t make a mountain out of a molehill.