Head of Alberta regulator to resign after $260-billion oilpatch cleanup estimate

Head of Alberta regulator to resign after $260-billion oilpatch cleanup estimate
Posted on November 5, 2018 | National Observer | Written on November 2, 2018

The president of Alberta’s fossil fuel industry regulator will resign in January, after the organization publicly apologized for the alarm caused by its $260-billion estimate of financial liabilities in the province’s oilpatch.

Jim Ellis, president and chief executive officer of the Alberta Energy Regulator, will be resigning effective Jan. 31, 2019, the organization announced Friday. He became president of the regulator in June 2013.

The announcement comes on the heels of a Nov. 1 report by National ObserverGlobal News, the Toronto Star and StarMetro Calgary that revealed the regulator’s stunning internal estimate of the cost of cleaning up aging and inactive oil and gas exploration wells, facilities, pipelines and toxic tailings ponds from oilsands mines.

The estimated financial liabilities, contained in a presentation by the regulator’s vice-president of closure and liability Robert Wadsworth, were $200 billion greater than a previous public estimate of just over $58 billion.

The AER said the decision for Ellis to resign “has been in the planning stages for the past several months.”

Read the full repoty by Carl Meyer at; https://www.nationalobserver.com/2018/11/02/news/head-alberta-regulator-...

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