CitizenVectron Posted January 31, 2019 Share Posted January 31, 2019 Supreme Court of Canada* https://www.thestar.com/amp/calgary/2019/01/31/supreme-court-of-canada-says-bankrupt-energy-companies-must-clean-up-old-oil-and-gas-wells-before-paying-off-creditors.html Huge news. Right now oil companies will shut down wells and will do nothing to clean them up, and then when they go bankrupt the public is left on the hook to pay the thousands of dollars per well to do environment cleanup. The ruling states that remaining assets must be sold/used to clean up these sites before creditors are repaid. This will have two large effects: More well sites will be cleaned up, saving public money and producing a cleaner environment (in the classic Teddy Roosevelt sense) Less investment in oil companies as there is a much larger risk of recouping nothing if they go under Both are positives, in my book. Quote Link to comment Share on other sites More sharing options...
chakoo Posted January 31, 2019 Share Posted January 31, 2019 Good ruling on this one. I’m sure CPC and Alberta will throw a hissy fit over it. Quote Link to comment Share on other sites More sharing options...
Chairslinger Posted January 31, 2019 Share Posted January 31, 2019 Quote Supreme Court rules oil companies must clean up environment before repaying creditors in cases of bankruptcy 6 minutes ago, CitizenVectron said: Supreme Court of Canada* Oh, okay. 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted January 31, 2019 Share Posted January 31, 2019 Won't you commies think of the poor investor class?!? Quote Link to comment Share on other sites More sharing options...
Jason Posted January 31, 2019 Share Posted January 31, 2019 1 hour ago, Chairslinger said: Oh, okay. A textbook Rileying. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted January 31, 2019 Author Share Posted January 31, 2019 My title is accurate. It's not my fault that some of you are Amero-centric. Quote Link to comment Share on other sites More sharing options...
TwinIon Posted January 31, 2019 Share Posted January 31, 2019 That seems very reasonable. I have no clue what it would take for a similar measure to apply here. Quote Link to comment Share on other sites More sharing options...
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