Talisman

Mon, 2014-10-13 08:00Chris Rose
Chris Rose's picture

New Report: Who Will Pay for the Costs and Damages of Climate Change?

people's climate march, zack embree

Canadian oil and gas companies could be liable for billions of dollars of damages per year for their contribution to climate change caused by toxic greenhouse gas emissions, according to a study published Thursday.

The study looked at five oil and gas companies currently trading on the Toronto Stock Exchange — Encana, Suncor, Canadian Natural Resources, Talisman, and Husky — and found they could presently be incurring a global liability as high as $2.4 billion annually.

Climate change is increasingly discussed not as some far-off threat but in terms of current realities,” said the 62-page study — Payback Time? What the internationalization of climate litigation could mean for Canadian oil and gas companies.

Published by the Canadian Centre for Policy Alternatives and West Coast Environmental Law (WCEL), the study found data showing the global financial cost of private and public property and other damage associated with climate change in 2010 has been estimated at $591 billion, rising to $4.2 trillion in 2030.

Tue, 2011-11-15 13:24Carol Linnitt
Carol Linnitt's picture

Gas Industry Geologists - Not Doctors - Decide If Water Is "Safe" in Alberta Fracking Contamination Cases

Water contamination is at the heart of the fracking debate. Gas companies and their well-funded industry support groups (still) adamantly contend that ‘there are no proven instances of drinking water contamination due to fracking.’ But as Chris Mooney recently wrote about in the Scientific American, and as DeSmogBlog pointed out in our featured report Fracking the Future – this argument is based more on semantics and sly avoidance tactics than scientific evidence, or personal experience for that matter. But in Alberta the oil and gas industry’s ability to deny responsibility for instances of water contamination may be related to an even greater systemic flaw – one which leaves the final verdict in the hands of industry representatives.

In Alberta, landowners who suspect their water is contaminated by gas drilling activity are directed to contact Alberta Environment (AENV), the provincial body that oversees the Water Act, and has just recently been renamed the Ministry of Environment and Water “to emphasize the importance of protecting one of Alberta’s greatest resources.”

AENV responds to complaints in tandem with the province’s oil and gas regulator, the Energy Resources Conservation Board (ERCB), previously the Energy and Utilities Board (EUB).  Upon the event of suspected water contamination, ERCB provides AENV with relevant information about the producing well, including which company it belongs to.  AENV then contacts the company who is directed to “conduct an investigation or hydrogeology study, using a qualified professional.”
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