The St. John’s Board of Trade has written an open letter to Prime Minister Justin Trudeau outlining the importance of the Bay du Nord offshore oil project for local business.
The letter urges Trudeau and his government to “make the right decision” and approve the Bay du Nord project.
The Board of Trade claims a “lengthy list of legitimate and significant” reasons why the project must go ahead, many of which the business community says anchor to the economic realities and fiscal devastation that a premature end to the oil and gas industry will cause not only to Newfoundland and Labrador but the Atlantic region and Canada as a whole.
The Board of Trade argues that if Bay du Nord is shelved, it will force Canada, and other countries, to source their oil from jurisdictions that do not produce products that are environmentally responsible or regulated. They believe that the global supply of oil must come from projects like Bay du Nord while the world transitions to other energy sources.