3 Energy Company Collapses In Past Year Leave BC Gov On The Hook To Clean 100s Of Abandoned Wells

[hatrack]

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When companies like Ranch become insolvent, the provincial government is left holding much of the substantial clean-up bill for the industry equivalent of a dine and dash. Ranch was just one of three companies operating in B.C. that went belly-up last year, leaving a forecast $12.3 million deficit in the B.C. Oil and Gas Commission’s orphan site reclamation fund, according to the commission’s annual service plan.

Demands on the reclamation fund will “continue to impact the Commission’s ability to balance its budget,” the plan states. It notes that 300 to 500 Ranch wells could still be designated as orphans, leaving the commission responsible for additional clean-up costs it estimates at $40 million to $90 million — but with less than $14 million budgeted for the orphan fund over the next year.

“Given the uncertainty about the timing of these orphan designations, there is no provision built into the financial plan,” the commission duly noted. Ranch also owes $1.88 million to the B.C. ministry of finance, $478,000 to the B.C. Transportation Financing Authority, $93,000 to BC Hydro, $7,500 in carbon taxes, and almost $500,000 more to the government for various unpaid bills, receivership documents show. (B.C.’s finance ministry said it could not disclose the nature of the outstanding bills due to privacy concerns.)

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John Werring, a senior scientist and policy analyst with the David Suzuki Foundation who trekked more than 10,000 kilometres in B.C. to document fugitive methane emissions from gas wells, said potential contamination of groundwater and impacts on wildlife and vegetation are some of the main concerns associated with leaking fracking ponds. He pointed to his field work in the Montney formation in B.C.’s Peace region, one of the largest shale gas resources in the world, where he saw other fracking ponds that appeared to be leaking.

“In particular, animals like moose and caribou are attracted to what they call mineral licks. They would be around these areas where we saw leaks,” Werring said. “The smell was terrible. We took samples of the water and found there were high volatile organic compounds. Downstream of the slope where these ponds were leaking all the vegetation was dead.” Werring pointed out there is “absolutely no information” on the effects of leaking frackwater ponds on groundwater.

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https://thenarwhal.ca/b-c-left-holding-massive-bill-for-hundreds-of-orphan-gas-wells-as-frack-companies-go-belly-up/

[Farmer-Rick]

1. Well, oil and gas corporations never gave a f*ck about our planet when they were raking in billions

Why would they care when they become obsolete and go bankrupt? Captalism at its best.

[Wellstone ruled]

2. Reminds one of Arkansas and

east Texas from the 50's and 60's when the slugged was pumped into the nearest swamp or creek.