The Alberta government’s revision of the Mine Financial Security Program (MFSP) continues down a wrong-headed path where the province is willing to take on environmental risk to enable oil sands development. It would be unacceptable if the government were underwriting oil sands firms’ pension liabilities to accelerate development. It should be unacceptable for the environment as well. If improved fiscal conditions are necessary for the viability of the oil sands industry, then these should be offered through the royalty regime and not through the underwriting of billions of dollars worth of reclamation liability.
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