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Alberta shifts management of inactive oil wells from taxpayer-funded to industry-insured model.
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.
The report, authored by David Yager, includes over 20 recommendations, such as creating an industry-funded insurance program to cover liabilities of closed wells.
The government is reviewing these recommendations and will provide updates on implementation soon.
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Alberta cambia la gestión de los pozos de petróleo inactivos de un modelo financiado por los contribuyentes a un modelo asegurado por la industria.