HERE WE GO AGAIN !!!Suncor just can't catch a break probably down in the morning based on the news out of alberta !!!!
Alberta’s proposed environmental laws would cancel oil sands leases
CARRIE TAIT
CALGARY — A number of oil sands leases will be revoked if the Albertagovernment implements its proposed environmental and conservation lawswhich it unveiled in draft form Tuesday.
The government declinedto identify how many oil sands companies will be affected. Governmentofficials on Tuesday said some leases which could be revoked alreadyhave projects under development. Compensation will be negotiated,including refunding what companies paid to the Crown for the leases anddevelopment and reclamation costs, as well as interest.
These lawscomes as part of the government’s plan to conserve roughly two millionhectares of habitat for native species within the province’s major oilsands zone. The plan, which is in draft form and will start theconsultation process soon, is called the Lower Athabasca Regional Plan(LARP).
In total, 14 energy companies and 10 mineral companieswill be affected by the protected zones. However, conventional oil andgas companies will not have their leases cancelled, officials said. But,their future development will come under greater scrutiny.
Leasemaps of the oil sands show that affected companies appear to includeCenovus Energy Inc. , Athabasca Oil Sands Corp. , Sunshine OilsandsLtd., Southern Pacific Resource Corp ., Stone Petroleum, CanadianNatural Resources Ltd. and Koch Exploration.
The Stony Mountainexploration block jointly owned by Nexen Inc. , Suncor Energy Inc. ,Japan Canada Oil Sands Ltd. and Imperial Oil Ltd. also appears to bedesigned by the province as a new provincial park or protected area. Aproposed “iconic tourism destination” area in the Cold Lake regionappears to coincide with land under lease to Canadian Natural ResourcesLtd.
The Alberta government, however, declined to name who will beaffected, making it difficult to discern which exact leases may be hitby the new conservation and protection measures.
With a file from Nathan VanderKlippe in Calgary