Based on the AER's own numbers, there are 94 companies with roughly $2 billion in liabilities who are considered to be in "high financial distress." The AER knows this problem is about to get MUCH worse, but they continue to set the orphan levy low to protect profitable O&G companies. #ABLeg #ABPoli
@phillipmeintzer.bsky.socialThe orphan fund exists to ensure that industry as a whole pays for cleanup when companies go bankrupt. The longer orphan wells sit unreclaimed, the more taxpayers pay to cover unpaid rent to landowners & unpaid municipal taxes. Low orphan levy = delayed cleanup = increased cost to Albertans. #ABLeg