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Alberta's oilsands cleanup piggy bank 'unfit for purpose,' researchers say (ca.finance.yahoo.com)

submitted 2 years ago by silence7@slrpnk.net to c/canada@lemmy.ca

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“The AER estimates over $45 billion in remediation and reclamation liabilities in the oilsands. This number may be a dramatic underestimate, with figures in leaked, official presentations suggesting as much as $130 billion in liabilities covered by less than $2 billion in security deposits,” University of Calgary School of Public Policy researchers Martin Olszynski, Andrew Leach, Drew Yewchuk wrote in a recent paper.

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[–] Track_Shovel@slrpnk.net 22 points 2 years ago* (last edited 2 years ago) (1 children)

To To put this in perspective, Giant Mine and Faro mine, which are much, much smaller mines, have cleanup bills around 4-5 billion.

Albertans have gone all in on difficult to extract oil that is sold at discount… On a market that’s controlled by a cartel [OPEC].

E: Faro mine is 25 km2 in size. the current mineable footprint for the oil sands 1,030 km2 in size.

[–] Sir_Osis_of_Liver@kbin.social 7 points 2 years ago (1 children)

Just to add another one, the Sydney Tar Ponds covered 102 hectares (1.02 km^2) and cost $400M (2013) to clean up.

[–] Track_Shovel@slrpnk.net 3 points 2 years ago

One of the Tailings ponds I'm familiar with is 9 km x 6 km in size...54km2