Alaskans should think twice about allowing big oil to sprawl across the state, If Alberta can be used as an example, the estimated cost of $70 billion to clean up 100,000 wells and remediate another 3000 could be more than the value of the Permanent Fund.
Extraction industry businesses as corporation can go bankrupt or sell to a shell corporation and leave the public holding the bag on clean up costs sometimes required by Federal or State law. With oil and gas being greenhouse accelerating items a better investment for Alaska would be in the field of hydrogen fuel cells, wind and solar (and geothermal if it is safe enough). Fracking and water pollution are additional concerns regarding oil.
https://www.cbc.ca/news/business/orphan-wells-alberta-aldp-aer-1.5089254
Extraction industry businesses as corporation can go bankrupt or sell to a shell corporation and leave the public holding the bag on clean up costs sometimes required by Federal or State law. With oil and gas being greenhouse accelerating items a better investment for Alaska would be in the field of hydrogen fuel cells, wind and solar (and geothermal if it is safe enough). Fracking and water pollution are additional concerns regarding oil.
https://www.cbc.ca/news/business/orphan-wells-alberta-aldp-aer-1.5089254
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