[Newsbot]

Title: Oil firm ceasing operations, leaving thousands of untended Alberta wells
Category: Environmental
Posted By: DrCaleb
Date: 2018-03-08 11:27:14
Canadian

[Freakinoldguy]

Given Sequoia is a Chinese company I won't hold my breath that the regulator will be able to make sure they're held responsible and made to pay for the wells.

This is just another reason why we shouldn't be allowing ANY foreign companies to buy into our resources industry without a Canadian partner PERIOD.

[raydan]

Nothing to see here, just the price of doing business.

[Thanos]

Privatize the profits, socialize the costs of the clean-up. Business as usual, no matter where the owners come from.

[martin14]

Sounds like free oil just waiting to be pumped.

[herbie]

Thanos Thanos:

Privatize the profits, socialize the costs of the clean-up. Business as usual, no matter where the owners come from.

Hmm. Unless people who say that are from BC in which case they're alarmists and eco-terrorists.

[Thanos]

It's not oilsands heavy so there's a good chance some one could come in and scoop the wells up if they're generating the lighter crude. Probably due more to the company being so poorly managed that they couldn't recover from the price drop three years ago because even when the price rebounded it wasn't enough to stop them bleeding their profits away. Wells like that if they're still capable of producing would be a real gem for a smarter company like Cenovus or CNRL to acquire.

herbie herbie:

Thanos Thanos:

Privatize the profits, socialize the costs of the clean-up. Business as usual, no matter where the owners come from.

Hmm. Unless people who say that are from BC in which case they're alarmists and eco-terrorists.

Which ignores the billions both the feds and Kinder Morgan have committed towards having clean-up crews and procedures permanently on hand in case anything went wrong.