OTTAWA – Steven Guilbeault, Federal Environment Minister, has approved a controversial new oil drilling project off the coast Newfoundland.
Equinor’s Bay du Nord Project is expected to produce approximately 300 million barrels per year of oil.
Guillbeault had been examining the project to determine whether it poses a significant risk to the environment. He twice requested more time before making a decision today.
According to climate scientists and environmentalists who opposed the project, it would harm Canada’s efforts in reducing greenhouse gas emissions.
Equinor said Bay du Nord would likely begin pumping in late 2010 and production is expected to peak at around 250,000 barrels per day.
According to the company, the project will generate $3.5 billion in total revenue for the cash-strapped Newfoundland and Labrador government.
This report was published by The Canadian Press on April 6, 2022.
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