Discover and read the best of Twitter Threads about #RStarScam
Most recents (7)
This piece proves Premier and UCP don’t have a clue about oil & gas law or facts:
“Smith acknowledged Alberta first needs to figure out how to get orphan wells reclaimed before requiring renewables companies to do the same”
Nothing to figure out! 1/n
edmonton.ctvnews.ca/we-are-a-natur…
“Smith acknowledged Alberta first needs to figure out how to get orphan wells reclaimed before requiring renewables companies to do the same”
Nothing to figure out! 1/n
edmonton.ctvnews.ca/we-are-a-natur…
Either:
a) Ensure the Regulator charges a levy on industry each year to be sufficient to retire all orphans as required by law; or
b) Cabinet can name another body to do the job in accordance with law if the Regulator can’t or won’t, as also contemplated by law.
2/n
a) Ensure the Regulator charges a levy on industry each year to be sufficient to retire all orphans as required by law; or
b) Cabinet can name another body to do the job in accordance with law if the Regulator can’t or won’t, as also contemplated by law.
2/n
The law is Part 11 of the Oil & Gas Conservation Act. We just need to ensure it’s enforced or make the changes the law provides for when enforcement is an issue. No need to reinvent the wheel on the world’s best orphan law!
<canlii.ca/t/55xvl#sec68>
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<canlii.ca/t/55xvl#sec68>
3/n
#KrisKinnear is said by @DonBraid to be working on flarepit and abandoned well policy in the Premier's Calgary office.
He's unqualified & potentially dangerous - a lobbyist.
Illegal and unsafe use of plunger lifts in oil wells impressed him greatly:
1/n
He's unqualified & potentially dangerous - a lobbyist.
Illegal and unsafe use of plunger lifts in oil wells impressed him greatly:
1/n
In an Alberta Enterprise Group video, Danielle Smith interviews Kinnear on the #RStarScam. Kinnear feels small companies are able to do what large companies cannot. He talks about a welder (Tim Reeves) purchasing wells and using plunger lift (17:50)
2/n
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Tim Reeves purchased numerous wells in the Olds/Didsbury area for $1.00 each because they were shut in due to high oil gas ratio rules - produced too much oil well solution (natural) gas that needed to be conserved (by pipeline) instead of being flared on site. List below:
3/n
3/n
[1] #RStarScam (Liability Management Incentive Program) IS NOT ABOUT ORPHAN WELLS.
Let's clear up misconceptions about Alberta's complex laws on who pays for oil & gas well end of life - "closure" – costs for wells. Misconceptions include terminology misunderstandings.+
Let's clear up misconceptions about Alberta's complex laws on who pays for oil & gas well end of life - "closure" – costs for wells. Misconceptions include terminology misunderstandings.+
[2] “Closure” means collectively (1) wellbore plugging ; (2) soil remediation; and (3) site restoration or reclamation.
An "orphan" is a well that has no responsible owner/licensee to perform closure work or pay for it.
"Abandoned" wells are sealed (not left behind by owner).+
An "orphan" is a well that has no responsible owner/licensee to perform closure work or pay for it.
"Abandoned" wells are sealed (not left behind by owner).+
[3] Explained below as per Alberta law is: who covers closure & related costs (industry) for:
1. wells with a viable responsible owner/well licensee (RStar applies; versus,
2. wells that do not have a viable owner to look after them or pay for closure ("orphans”). +
1. wells with a viable responsible owner/well licensee (RStar applies; versus,
2. wells that do not have a viable owner to look after them or pay for closure ("orphans”). +
[1] Statements made by Premier Smith in her presser on Feb. 9, related to the boonodoggle formerly known as R-Star, indicate that she is either misinformed, being purposely misleading, or both. Video at 6:40. +
[2] Asked a question about proposed royalty reduction in return for well closure program / drilling incentive pilot project, Smith replies by referring to changes to environmental standards that have nothing whatsoever to do with the inactive wells & flare pits targeted. +
[3] She says nobody wants to take on the liability associated with some 4,500 old pre-1980 flare pits. Duh! This is akin to saying nobody wants to take on the burden of making mortgage payments so let's buy all our political supporters expensive houses! +
.@ABDanielleSmith's #RStarScam pet Kris Kinnear is pushing #RoyaltyBunk:
"These benchmarks combined have made capital availability to #oilandgas producers next to extinct."
In reality, it's lack of profit in #abpoli o&g since '09 & insolvency since '05:
saenetwork.ca/royal-line-of-…
"These benchmarks combined have made capital availability to #oilandgas producers next to extinct."
In reality, it's lack of profit in #abpoli o&g since '09 & insolvency since '05:
saenetwork.ca/royal-line-of-…
Accidental truth:
"a co’s income changing month-month...is affected as much if not [>prices+demand than] by production decline + operational failure."
See:
economicsfromthetopdown.com/2022/02/10/a-c…
+
economicsfromthetopdown.com/2022/09/24/how…
"a co’s income changing month-month...is affected as much if not [>prices+demand than] by production decline + operational failure."
See:
economicsfromthetopdown.com/2022/02/10/a-c…
+
economicsfromthetopdown.com/2022/09/24/how…
More accidental truth:
"In a price environment such as Western #cdnpoli’s [in 2021],for many #abpoli #oilandgas producers...“breakeven”now either requires low capital ops yielding production increase, or requires a significant commodity price increase."
[i.e. they're #insolvent]
"In a price environment such as Western #cdnpoli’s [in 2021],for many #abpoli #oilandgas producers...“breakeven”now either requires low capital ops yielding production increase, or requires a significant commodity price increase."
[i.e. they're #insolvent]
'“#RStarScam is a pilot project that incentivizes [sic--fully/doubly subsidies] the clean-up & reclamation of #oilandgas wells,& in doing so, it creates a royalty credit for future @abpoli drilling [& related #UnfundedOilfieldCleanup]” #ableg energy minister.@PeterGuthrie99 said'
This is an ominously disappointed signal from .@RachelNotley's .@abndpcaucus.
In a previous life, Hirsch was think-tanker attacking .@ParklandInst researchers & offering apologetics for deficit-creating royalty cuts...(CH 22/4/95:A5)
#ableg #abpoli #RedWater #Spyglass #Trident
In a previous life, Hirsch was think-tanker attacking .@ParklandInst researchers & offering apologetics for deficit-creating royalty cuts...(CH 22/4/95:A5)
#ableg #abpoli #RedWater #Spyglass #Trident
Despite admitting he doesn't understand bank-originated money/credit, Hirsch was at.@atbfinancial when they tanked #RedWater 7 days after Notley elected.
ATB then tanked #Spyglass in the middle of the NDP's royalty review.
ATB welcomed .@jkenney to office by tanking #Trident...
ATB then tanked #Spyglass in the middle of the NDP's royalty review.
ATB welcomed .@jkenney to office by tanking #Trident...
Those 3 co's represent a very sizeable proportion of the Orphan Well Association's current inventory.
That photo of Notley + Hirsch + Phillips signals something very disappointing about #abpoli's #ableg opposition & the complete lack of an alternative for AB #oilandgas policy.
That photo of Notley + Hirsch + Phillips signals something very disappointing about #abpoli's #ableg opposition & the complete lack of an alternative for AB #oilandgas policy.
