The Department of Lands, and Environment and Natural Resources prepared security estimates to cover environmental liabilities for new projects as well as existing operations. The process to review and amend securities is directed by the regional land and water boards, which have the legislative responsibility to set the securities amount in water licences and land use permits. If there is change to the project or authorization, a new security review process is initiated by the regulatory boards. Making sure that the right balance between protecting the environment and allowing for investment is a challenge for all jurisdictions. I think it is fair to say that this is a particular challenge when we see industry like oil and gas struggle. While we will not always be able to anticipate when operations will run into difficulties meeting their obligations, efforts are made to review existing securities, to mitigate the risk associated with this development. This is something that I can say I believe we can work on as a government and improve.
Shane Thompson on Question 23-19(1): Strategic Oil and Gas Ltd. Environmental Liabilities
In the Legislative Assembly on December 12th, 2019. See this statement in context.
Question 23-19(1): Strategic Oil and Gas Ltd. Environmental Liabilities
Oral Questions
December 12th, 2019
Page 93
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