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.
