Remediation

Edmonton, Alta. – With its ruling today, the Supreme Court of Canada has rightfully put the health of our environment ahead of banks. Companies cannot shed their environmental liabilities in order to pay banks back first. This ruling is a win for all Canadians, as there are massive outstanding environmental liabilities in many sectors, not just oil and gas. Read More

An op-ed from Joshua Buck, Alberta climate program manager at Environmental Defence, on the $260-billion unfunded environmental liability in the oil and gas sector in Alberta:

Albertans have had a long-standing and mutually beneficial bargain with the oil and gas industry. Basically, the deal was, the companies can take Albertans’ resources, practically for free, but in exchange, they’ll create high-paying jobs for Albertans. They’ll create the conditions for a strong economy, low taxes, and a high quality of life.

But it looks like we have been duped. Because there was another, hidden part of the deal: massive clean-up costs that the companies aren’t able to pay. Costs that will likely be left to Albertans to pay, long into the future.

Read the full op-ed in the Edmonton Journal Read More