The Bay du Nord oil project is currently under review by federal Environment Minister Steven Guilbeault, who must determine if it poses a significant environmental threat
As Newfoundland and Labrador awaits word from Ottawa on a proposed new oil field off the coast of St. John’s, Shears Mercer says he’s not worried – he’s frustrated.
But above all, Mercer said he wishes the province could untangle itself from the fate of the oil industry and figure out how to support itself. The company says Bay du Nord will be worth about $3.5-billion to the Newfoundland and Labrador government, with oil production beginning in the latter part of the decade. Bay du Nord would be Canada’s first deep water project to produce oil, with wells in about 1,200 metres of water pumping around 188,000 barrels of oil a day.
“The messages are very clear that expanding oil and gas extraction is incompatible with a 1.5-degree world,” said University of Waterloo associate professor Sarah Burch, referring to the 2015 Paris Agreement commitment to keep global temperature increases below 1.5 C. Burch was an author of the sustainable development chapter of the Intergovernmental Panel on Climate Change report on climate change mitigation, released Monday.
“If you look at the project specifically by itself, there are merits,” Bataille said in an interview Tuesday about Bay du Nord. “But if you look in the larger context, if they tightened up their operations, the Saudis are just as clean.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Feds' impending Bay du Nord decision one to watchIt will be the first major decision on a future resource development project since the new federal emissions plan was announced.
Read more »
N.L. premier on Bay Du Nord projectNewfoundland and Labrador Premier Andrew Furey says there is going to be a need for petroleum products in the transition to green energy.
Read more »
Caught between climate warnings and economic realities, Canada and the world face tough fossil fuel choices | CBC NewsThe UN's latest warning about the world's climate goals slipping away is looming over a pending decision on whether a large offshore oil project will go ahead off Newfoundland, promising a much-needed boost for the province's economy but potentially moving the world further away from avoiding climate disaster.
Read more »
N.L. premier on Bay Du Nord projectNewfoundland and Labrador Premier Andrew Furey says there is going to be a need for petroleum products in the transition to green energy.
Read more »
Feds' impending Bay du Nord decision one to watchIt will be the first major decision on a future resource development project since the new federal emissions plan was announced.
Read more »