environmental liabilities Archives

Environmental liabilities… will not go away

26Apr

By Bob AscahNo Comments

Environment, Financial Institutions, Politics

Environmental liabilities… will not go away

Alberta Liabilities Disclosure Project (ALDP) On 5 April, the ALDP held a news conference to raise awareness about the scope and scale of the orphan well issue in the Province of Alberta. According to its website, the ALDP "is an independent and non-partisan initiative pushing for accurate and transparent government level data pertaining to Alberta's oil and gas liabilities." This initiative, of which I am a participant, is aimed at making oil and gas environmental liabilities an issue during the recent provincial election. While media outlets such as The Globe and Mail, National Observer and Postmedia shared information about the initiative, political parties -other than the Alberta party's David Khan and Dr. David Swann, did not click on the bait. Regan BoychukSource: National...

Environmental Liabilities-Part 2 AER Bombshell

Originally posted on 5 November 2018 On Thursday, 2 November 2018 a startling Power Point presentation made by the Vice-President, Liabilities of the Alberta Energy Regulator [Go to National Observer] was released under Alberta's Freedom of Information and Protection of Privacy Act. The path-breaking investigation was undertaken by staff at the National Observer, Toronto Star, StarMetro Calgary, and Global News. Find the full Powerpoint presentation here. AER-FEB 28-wadsworth-liability-260 BILLION (1) Mr. Wadworth (pictured) worked at the Bruce Nuclear power plant in Ontario prior to his taking the VP's job at the AER. Mr. Wadsworth is a graduate of Royal Military College. In 2017, according to AER's disclosure under the Public Sector Compensation Transparency A...

Environmental Liabilities Part 1- Exxon-Mobil

Originally posted 5 November 2018 Two major stories hit the wire this past week spotlighting the emerging realization that financial markets do care about the scale of environmental liabilities of energy companies. In this post the lawsuit filed by New York State's Attorney General is examined. In Part 2, the story about estimated environmental liabilities reported by the Alberta Energy Regulator to industry in a private meeting in February 2018 is explored. On 24 October the Attorney General of the State of New York, Barbara Underwood, brought a lawsuit against Exxon-Mobil. The lawsuit alleges ExxonMobil "fraudulently, systematically and repeatedly has deceived investors about the impact that future climate change regulations could have on the company's assets and value."New York...