Alberta’s premier is floating the idea of making oil and gas companies pay a deposit before they can drill a new well, a requirement which hasn’t been in place in decades and has often been resisted by industry.

The provincial government is looking at ways to address the large number of old oil and gas wells which require cleanup.

To help prevent the problem from increasing further, Danielle Smith said companies should set aside some money up front, suggesting $10,000 per well, while speaking at an industry event this week.

"They've got to put a little bit of money aside so that by the time it's at its end of life, the money is there to be able to clean it up,” said Smith, during a question and answer session on stage in front of 800 people at the Canadian Association of Energy Contract

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