Regulatory Bulletin Commented On: AER Bulletin 2024-11: Conditional Adjustment of Reclamation Liability (CARL) Program and New Edition of Directive 088 and Manual 023
PDF Version: Waiting for a Credible Cost Estimate of Oil and Gas Liabilities and the Problem with CARL
This post describes and assesses the Conditional Adjustment of Reclamation Liability (CARL) Program announced by the Alberta Energy Regulator (AER) in April 2024 and discusses a central question about Alberta’s conventional oil and gas closure liabilities: the absence of a credible official cost estimate. “Conventional oil and gas” in this context means wells, pipelines, and facilities, but excludes Large Facilities and oilsands mines, which have separate regulatory systems.