Quote:
Originally Posted by spaustin
He can't take all the credit, but the province has played a key role in reviving the offshore. The oil industry had basically given up in the late 90s after other wells after Sable kept coming up dry. So the province and other partners undertook their own "Fairways Analysis" of the geology to identify where there is likely to be oil. The analysis is basically the upfront work that oil companies do when they're figuring out where to look for oil. The Analysis was provided to everyone and is part of why we now have Shell spending a billion on exploration. It seems like one of those moments where government has played a very positive role. If Shell finds a developable find out there, the effort will have been well worth it!
http://thechronicleherald.ca/business/54163-comprehensive-offshore-analysis-draws-industry-praise |
A lot of credit is due to the previous PC government who put 15 million into reserch to find out how much oil and gas is out there. Oil companies are taking notice.
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