Community
How $4.7Billion could have been better spent in Alberta
The number of 4.7 billion dollars has been flying around in Alberta recently for different reasons.
The most common relevance of $4.7 billion was the often touted tax give away to large corporations which was used to beef up reserves, increase dividends, bonuses, or buy back shares but did not increase jobs as it was intended. Tens of thousands of jobs have been lost since the tax give away was announced.
If this is to be believed then each and every Albertan paid out $110 for big corporations benefit at the cost of more jobs.
The less commonality of 4.7 billion is the extreme cost of remediation and/or clean up of 77,000 abandoned wells. Not the environmental costs of abandonment, but the remediation and clean up of the abandoned well.
The costs are said to cost between $20,000 and $61,000 per well. So if we go with $61,000 times 77,000 abandoned wells it would cost $4.697 rounded off to $4.7 billion.
Premier Kenney wants the federal government to pay the costs, protect the environment and create jobs for Albertans after giving the same amount of money to some of the same companies who were profiting and abandoning the wells.
We also have on the books, 90,000 inactive wells which could become abandoned if we don’t take actions, now. That could be $5.4 billion hit in the near future at today’s estimates.
There is some resistance and resentment from Canadians and even some Albertans. That 4.7 billion that went to already deep pockets could of created jobs for Albertans and protected the environment.
Why did we not address these wells when we were in boom times? These wells did not pop up overnight, they have been around for up to half a century. Who is to blame? Who was looking out for Albertans? Apparently it wasn’t the big oil companies or the governments.
Perhaps it is time to hit the rest button?
Community
Festival of Trees tickets on sale! Update from the Red Deer Regional Health Foundation
Festival of Trees tickets are on sale now! Get ’em while they’re hot!
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Community
First Battle of Alberta this NHL season to bring big boost to Child Advocacy Centre!
From the Central Alberta Child Advocacy Centre
The Edmonton Oilers MEGA 50/50 is BACK in support of three amazing organizations
By purchasing your Oilers MEGA 50/50 tickets today, you’re helping to support the CACAC, along with Little Warriors and Zebra Child & Youth Advocacy Centre .
Purchase before 1PM to be eligible for all 4 early bird prizes, including a $500 Esso card, 2 PCL Loge Arkells tickets for November 1, $1000 for Alberta Beef, and $10,000 CASH!
Early Bird draws!
Buy before 1:00 for $500 Esso card
Buy before 7:00 for 2 PCL Loge Arkells tickes
Buy before 7:30 for $1,000 Alberta Beef
Buy before 8:00 for $10,000 Cash!
THANK YOU EDMONTON OILERS!
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