The Alberta government’s plan to move ahead with RStar—a particularly boneheaded scheme by which oil companies can keep a portion of their royalties to clean up orphan or abandoned wells which they already have a legal obligation to do, is getting pushback from some fairly surprising sources, like those tree huggers at Scotiabank, who point out that this kind of a programme goes against fundamental capitalist principles. It’s also indicative out outright corruption, because premier Danielle Smith was lobbying on behalf of certain companies for this kind of subsidy before she got elected. This whole thing is just a giant flashing red flag of what is wrong with Alberta politics.
Since we're back to talking about R-Star, here's a piece I wrote a while back.
Although, after some blowback I got for writing this piece, I remain hopeful that a couple of very specific orphan wells and deadbeat companies benefit from the pilot.
— Andrew Leach (@andrew_leach) February 9, 2023
Framing royalty credits as "letting companies keep more of what they earn," fundamentally misunderstands the trust relationship that our government should have with respect to Crown resources. Royalties are the payments firms make for access to our resources. They are not taxes.
— Andrew Leach (@andrew_leach) February 9, 2023
Scotiabank says giving royalty credits to companies to clean up their old wells could damage the reputation of Canada's oil and gas industry.
— Amanda Stephenson (@AmandaMsteph) February 9, 2023
For those who’ve been asking, here’s the excerpt from the Scotiabamk report. pic.twitter.com/asjoiH6o4S
— Amanda Stephenson (@AmandaMsteph) February 9, 2023
So, is this program driven at orphan wells and sites? Or wells and sites that are still owned by going concerns? Or sites that were issued reclamation certificates and those turn out to have been prematurely issued? Because those are distinct issues. https://t.co/D0WdJfdkWe
— Andrew Leach (@andrew_leach) February 9, 2023
Ukraine Dispatch, Day 352:
As Russian forces continue their assault in the Donbas region, there are concerns that SpaceX has started limiting use of Starlink satellites for use by Ukraine’s military to control drones (which are mainly used for reconnaissance). Meanwhile, president Volodymyr Zelenskyy was in Brussels to both look for more aid and to plead for EU membership, even though that process can take a decade. He also said that Ukraine intercepted Russian plans to destroy Moldova, which Moldovan intelligence confirmed, a plan that mirrored what Russia had planned for Ukraine.
https://twitter.com/vonderleyen/status/1623609001580560384
The municipal Department of Education in Bakhmut after Russian attacks. It used to be a place where people were working for education in the city till Russua began its cruel war against Ukraine.#RuWarCrimes_UW #ISAREdnannia pic.twitter.com/xLF6R2fXS7
— UkraineWorld (@ukraine_world) February 9, 2023
Russia again attacked Kherson. Fortunately, no one was wounded. See the aftermath of the attack in the video of the Kherson Oblast Military Administration#RuWarCrimes_UW #ISAREdnannia pic.twitter.com/6B0D7Z9Ky0
— UkraineWorld (@ukraine_world) February 9, 2023