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flag Alberta shifts management of inactive oil wells from taxpayer-funded to industry-insured model.

flag Alberta's government has updated a report on managing the province's nearly 80,000 inactive oil wells, shifting from a recommendation to use taxpayer funds as a backstop for an insurance program to one where the province manages the fund. flag The report, authored by David Yager, includes over 20 recommendations, such as creating an industry-funded insurance program to cover liabilities of closed wells. flag The government is reviewing these recommendations and will provide updates on implementation soon.

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