If oil and gas liabilities could somehow be converted to assets, this would be good news indeed for landowners who have rotting, unsafe wells and facilities on their land. Often these landowners are not receiving the compensation they are entitled to and municipalities cannot collect the taxes due to them.
Once any well has been safely plugged and land remediation and reclamation issues have been properly dealt with, sites once used for oil and gas purposes can be used for any other purpose (including renewable energy projects, agricultural, residential, or any other purpose contemplated by law).
The LEAD Project Report
On April 26, 2021 the Energy Futures Lab and Canada West Foundation issued:
“LEAD” stands for Levering our Energy Assets for Diversification. The main premises of the LEAD Project Report, which the Polluter Pay Federation challenges, are that oil and gas wells or facilities and the sites they occupy are assets that can be leveraged by renewable energy projects (solar, wind, geothermal, etc.). However, the LEAD Project Report contents that there are currently various barriers to doing so (“red tape” needs to be eliminated).
The press release related to the LEAD Project Report states that the Report was provided to the Alberta Minister of Energy (the Hon. Sonya Savage). Appendix A to the LEAD Project Report is a proposed new Bill.
Related Interviews on Video
Interview with Marla Orenstein of Canada West Foundation (LEAD Project Proponent). Markham Hislop. Energi Media.
Interview with Regan Boychuck of the Polluter Pay Federation (Lead Project Critic). Markham Hislop. Energi Media.
Rebuttal to the LEAD Project Report
Working with the Alberta Liabilities Disclosure Project (ALDP), the Polluter Pay Federation prepared submissions to the Minister of Energy in rebuttal to much of what is set out in the LEAD Project Report:
- A Press Release dated May 7, 2021
- Submissions to the Minister of Energy in rebuttal to the LEAD Project Report
The positions of the Polluter Pay Federation and ALDP are that no new law is required and that it would be a mistake for the Alberta Government to act on the myopic and misleading LEAD Project Report.