Who cleans up the 260 billion dollar environmental disaster unfolding in Alberta?

[Integrity_Farmer]

Who cleans up the 260 billion dollar environmental disaster unfolding in Alberta? Stunning internal documents from Alberta's Energy Regulator estimate the cost to clean up Alberta's oil and gas industry may be $260 billion. $200 billion more than has been publicly reported. https://globalnews.ca/news/4617664/cleaning-up-albertas-oilpatch-could-cost-260-billion-regulatory-documents-warn/

[helmsdale]

Thank goodness we aren't planning to shut them all down tomorrow. Best we keep them profitable so they can continue to afford the cleanup bill...

[Herc]

Maybe Quebec should send back their Dirty oil equalization payments.

[Integrity_Farmer]

Thank goodness we aren't planning to shut them all down tomorrow. Best we keep them profitable so they can continue to afford the cleanup bill...

Albertan's need to face reality that any oil production or expansion will result in more environmental destruction

Nigeria has been highly exploited by the oil industry (many Canadian companies) and yet they receive 3 times as much in royalties as Alberta https://www.theguardian.com/environment/true-north/2017/oct/26/revealed-oil-giants-pay-billions-less-tax-in-canada-than-abroad

Canadian oil companies are highly profitable as this article indicates https://globalnews.ca/news/4643295/canada-big-oil-company-profits-report/ from this article The five companies paid $31.76 billion in dividends to shareholders over the period, including $12.56 billion since the oil price crash in 2014

In 2017, the Big Five transferred a total of $6.2 billion to shareholders ($4.16 billion in dividends and $2.04 billion in share buybacks) and had residual savings of $7.3 billion, while paying out $4.72 billion in taxes and royalties to all levels of government

The aggregate gross profit of the companies in 2017 was $46.6 billion, which was close to the Alberta government’s revenue of $47.3 billion

Your economic theory of making them profitable as somehow the answer was once explained by economist John Kenneth Galbraith who explained the trickle down theory 'If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).'

[SASKFARMER3]

Maybe we need to go full speed oil development right now. Make money like no tomorrow for people, oil companies, taxes, etc.

Because one day oil will be replaced by something else and why be piss poor going into that new system.

Why not hit it with full bank accounts and help find it.

But no in canada let’s keep it in the ground and be poor all our life and let others have the wealth.

[blackjack]

Merry Christmas I-F
Whats you’re point I-F it would cost billions to clean up these cesspools NY city, Los Angeles,Toronto . You get the point.

[SASKFARMER3]

Good point what would the cost be to clean up Mumbai or any industrial Chinese city.

Ah let’s pump oil while the sun shines.

[the big wheel]

Maybe we need to go full speed oil development right now. Make money like no tomorrow for people, oil companies, taxes, etc.

Because one day oil will be replaced by something else and why be piss poor going into that new system.

Why not hit it with full bank accounts and help find it.

But no in canada let’s keep it in the ground and be poor all our life and let others have the wealth.

Yes go at it all they want but not like the last boom here in sask where the puppets all were owned and the rest of us ended up paying for all the expansion and millionaires made. There has to be a lot more thought out into how it all should work. Rather than let's all go hog wild and when it. Ends who's gonna pay for the cleanup? Etc.
Saskfarmer who's gonna pay for the increase to our farming expenses as a result of expanding rhenoil industry? It's happenned every time. Farmers pay for the oil industry.

[grassfarmer]

Merry Christmas I-F
Whats you’re point I-F it would cost billions to clean up these cesspools NY city, Los Angeles,Toronto . You get the point.

Depends what you mean by clean them up. Cities don't generally get abandoned so they adopt a "clean up as they go" model. Sewers, water pipes, electricity lines are kept functional because they are still needed. When you abandon oil facilities the pipes and well bores will corrode and leak onto the land and into the aquifers unless they are properly decommissioned. Increasingly they are abandoned regardless with no enforcement of regulations to ensure they are cleaned up - that's the ticking time bomb I-F is talking about.

[bucket]

Who pays???? whoever is left after everyone leaves.....