The Globe and Mail reports in its Saturday, Nov. 3, edition that the Alberta Energy Regulator said on Friday that president and chief executive officer Jim Ellis is stepping down early next year as the watchdog contends with growing concern over unfunded remediation costs in the oil patch.
The Globe's Jeffrey Jones writes that Mr. Ellis's sudden departure comes a day after the AER was forced to apologize after the release of records that showed it could cost nearly four times what the agency had publicly disclosed to fully clean up defunct oil and gas operations.
The AER pegs total liabilities for all oil and gas operations in the province at about $59-billion. However, documents released on Thursday show costs could be closer to $260-billion, a figure the regulator said represents a "worst-case scenario" of a complete and immediate industry shutdown. The AER on Friday said Mr. Ellis's departure, effective Jan. 31, 2019, has been planned for several months and that it would begin an immediate search for his replacement.
Mr. Ellis joined the AER in 2013 and was the first to lead the agency after its merger with the provincial ministry in charge of environment and sustainable resources development.
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