This story may cause some issues, especially in Alberta, but nationally as well.
It appears as though even a conservative scenario on clean-up costs for the oil sands is largely unfunded. 1.6B in securities against a 50B+ tab.
Oil miners were allowed to count as yet unmined Bitumen as security against the cost of the cleanup.
Also, leaked documents from the Alberta Energy Regulator suggest the tab for cleans up may be well over double the original number.
Why 50 years of bitumen mining will add up to a money loser for taxpayers.
thetyee.ca
Honestly, no matter one's take on the oil sands, allowing unmined bitumen to be pledged as collateral.........is scandalously stupid.
Trump-worthy stupid.