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Alberta Explores 'ClosureCo' Model to Tackle Massive Oil Well Cleanup Liability
Alberta faces a $33-billion to hundreds of billions of dollars liability from 274,215 inactive oil and gas wells; the province is considering a "ClosureCo" model, where specialized companies acquire and clean up wells, but its success hinges on securing funding without public subsidies.
Alberta Explores 'ClosureCo' Model to Tackle Massive Oil Well Cleanup Liability
Alberta faces a $33-billion to hundreds of billions of dollars liability from 274,215 inactive oil and gas wells; the province is considering a "ClosureCo" model, where specialized companies acquire and clean up wells, but its success hinges on securing funding without public subsidies.
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