FEDS APPROVE BAY DU NORD BUT BEWARE ANOTHER SHOE TO DROP

NL may have dodged one offshore bullet, but well-informed sources in the Nation’s capital advise that the public were given only one part of the story.

The Federal Cabinet has agreed, over objections from Environment Minister Steven Guibeault, to allow Bay du Nord to proceed. But so far unannounced is that Ottawa has extracted from Premier Andrew Furey an agreement that in return, no other offshore oil development licenses will be issued. Ottawa does not want to be seen doing the killing alone.

This compromise was the cost of the Fed’s $2 billion loan for “rate mitigation”. A more mature, savvy, politician would have told Ottawa to stuff it. Furey has agreed to the price.

The “noise” that you are hearing from local media, over the past few days, revolves around climate friendly wind power and hydrogen.

What you are hearing is a structured campaign giving the impression that your future is connected with these energy sources rather than oil – though the globe needs oil and we have some of the lowest carbon emitting stuff. It is a more important industry than many people, including our own, fully understand.

BAY DU NORD: SHEEP GET SHEARED

There are only 21 days left. The Prime Minister will decide the future of the NL oil industry, our economic future.

The noise gets louder. 

Is it Andrew? Has he returned from Ottawa? The decision on Bay du Nord?

No, its NOIA changing its name.

They have found another ass to kiss.

But Bay du Nord?

Furey says: Prime Minister, thy will be done.

People think its (just) Bay du Nord, when at stake is the whole offshore oil industry; Bay du Nord just the beginning.

BAY DU NORD: OUR POLITICIANS GENUFLECT TO CENTRAL CANADA

 Last week’s post by Ron Penney, a member of the negotiating team that hammered out the terms of the “Atlantic Accord” for the joint Federal/Provincial management of NL’s offshore oil and gas, ought to remind us of its importance and hard-fought origins.

It should raise concern, too, that a process that began under Premier Paul Davis, with an amendment to the Atlantic Accord Implementation Act (the slippery slope) in 2015, was compounded in 2019 when the Feds made changes to their environmental legislation, which the Ball Government refused to oppose, which effectively gave the GoC control over offshore environmental assessments. This was not the intent of the Accord.  When the Feds stop approving Development Plan Applications, what is the function of the C-NLOPB?

OVER 1000 FPSO JOBS GO TO SPAIN WHILE WE BEG THE FEDS FOR MONEY

True to form, Premier Dwight Ball and Natural Resources Minister Siobhan Coady have joined NOIA in a new crusade to have the Government of Canada ante up for a “neo-PIP” (Petroleum Incentive Program). NOIA not only wants the oil industry to receive exploration funding, they want the “beleaguered” Companies to get operating assistance, too. This is not as surprising as it is aggravating. We are talking about a group of petty, quick-buck, short-sighted manufacturer’s agents anyway; the Ball Government aligns perfectly with their thinking.

Many “private-enterprisers”, not just oil companies, are wont to pump their chests about the capital which they put at risk; until there is an economic hiccup — or pandemic — that transforms them into beggars. Problem is, when the distress passes, they expect to be left alone to conduct “private” business unhindered, the notion of payback quickly forgotten.