The Newfoundland Oil and Gas Industries Association calls the situation facing the province’s offshore “death by a thousand cuts.”
Noia is hosting a virtual town hall today to discuss the impact of the current economic situation.
The town hall will feature former premier and Vice-Chair of BMO Financial Group Brian Tobin, President of Killick Capital Mark Dobbin, and President of Cahill Group Fred Cahill.
(File photo.)
Noia President Charlene Johnson who is also speaking at the town hall, says things are bad, and they’re looking for government incentives to help the industry.
She says there is “tremendous opportunity here,” but they can’t do it without incentives. She admits investment dollars will be scarce in the future, and if companies are scaling back 30 per cent, there’s still 70 per cent left to spend, so incentives are essential to keep those investment dollars in the NL offshore.
The virtual town hall takes place this afternoon at 3:00 with a media availability at 4:30. VOCM News will be there.
