Quote:
Originally Posted by ericmacm
The approval of Bay du Nord was inevitable after the 2020 Federal Regional Impact Assessment for offshore NL drilling concluded that oil extraction from 100 potential new wells in the area over 10-12 years was not going to produce significant GHG impacts (within the scope of drilling, broader downstream GHG emission contributions were not included since it's hard to quantify). It was also considered unlikely to result in a catastrophic blowout or spill given that industry standards have already lowered the risk of these incidents as much as reasonably practicable.
We will likely see more of these projects crop up and gain approval in the near future.
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Good insight. I also like the Environment Minister's comments on trusting the expertise to an agency of scientists rather than politicizing the decision making and I hope he continues to follow through with that. He has been doing a decent job of shaking off the Greenpeace attachment in his role.
This is a much, much needed boost to NL's economy and I hope Equinor follows through with this approval and its conditions and completes the project.