A thriving offshore sector brings major benefits to the people of Newfoundland and Labrador.
Over the past two decades, $42 billion has been invested to build up Canada’s oil and gas industry in Newfoundland and Labrador. Between 1997 and 2016, more than $20 billion in offshore royalties were paid to the government to pay for things like roads, hospitals and schools.
But there are challenges ahead. A recent report released by the provincial government shows that there remain significant challenges to keeping Newfoundland and Labrador competitive in a growing global market. Further, investment in the Canadian oil and gas industry is on the decline. In 2014, we saw $81 billion of capital investment. 2017 is estimated at $43 billion and 2018 is forecasted at $41 billion.
Now is the time to show our support!
Sign the pledge today and show that you stand behind policies that will bring good jobs to Newfoundland and Labrador and help keep our offshore oil and gas sector competitive for years to come!