Vancouver—In its most sweeping effort to balance resource development and the environment, the Canadian province of Alberta has created six new conservation areas covering five million acres in its core oil sands formation and opened negotiations with 13 energy companies on either cancelling leases or compensating them. David Pryce, vice-president of operations for the Canadian Association of Petroleum Producers, said in a statement August 23 that the “compensation issue is a complex one” that could involve claims for potential lost profits from companies that have spent about C$30 million ($30.2 million) acquiring the leases.
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