Open AccessProtecting and Supporting the Orphan Fund: Recent Legislative and AEUB Policy Amendments Designed to Address Unfunded Liabilities of Oil and Gas Faculities in Alberta
Author(s) -
Danielle Brenzina,
Bradley Gilmour
Publication year - 2003
Publication title -
alberta law review
Language(s) - English
Resource type - Journals
eISSN - 1925-8356
pISSN - 0002-4821
DOI - 10.29173/alr493
Subject(s) - legislature , accountability , mandate , scope (computer science) , energy law , abandonment (legal) , petroleum industry , liability , business , public administration , finance , economics , law , political science , environmental law , engineering , environmental engineering , computer science , programming language
Recent changes to the Oil and Gas Conservation Act have given regulatory bodies a broader mandate in relation to abandoned wells in Alberta; as set out primarily in Part 11, "Orphan Fund, " but elsewhere as well. These legislative changes have important implications for the oil and gas industry due to the expanded scope of the Orphan Fund as regards liability, suspension and abandonment obligations and costs, and the related accountability of directors, officers and agents. This article discusses these changes and how they have been given substance through policy developments and regulatory decisions.