Abandoned Wells Create Liability for Future Subsurface Resource Exploitation
Due to inadequate management of the liability associated with abandoned wells, wellbores will continue to pose a threat to resource development in Alberta. To mitigate this issue, a new development should be burdened with the costs of mitigating the risks of that development. Economic decisions made at the time the risk is to be imposed, in the present, will be more reasoned. Companies that follow the regulations should be able to reasonably expect that compliance with the rules will alleviate liabilities in the future. The regulated industry should be able to trust the expertise of a regulator to ensure the protection of the environment, public safety, and the subsurface resource.
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