This was a unique situation. Securities were estimated by the federal government and then transferred to the GNWT upon devolution, and the amount held by the Canada Energy Regulator was not disclosed to the GNWT until recently. We did not know that the total amount of security is insufficient. It is unlikely that this particular situation will arise again as we have a robust regulatory system, including updating security requirements for oil and gas and other operations and devolutions since devolution has happened.
Shane Thompson on Question 627-19(2): Regulatory System for Contaminated Oil and Gas Sites
In the Legislative Assembly on March 2nd, 2021. See this statement in context.
Question 627-19(2): Regulatory System for Contaminated Oil and Gas Sites
Oral Questions
March 2nd, 2021
Page 2251
See context to find out what was said next.