Tuesday, March 23, 2010

Petro Province?

According to Questerre Energy Corp., an underground lake of natural gas is buried near the St. Lawrence river. Also, another company wants to drill a well on an oil field on the border between Newfoundland and Quebec. This means that we are facing the possibility of becoming a province that contributes to equalization, not receives. We also have to consider the environmental impact of the drillings. Exploitations do pollute the air and water. I say let the companies do it. But there are going to be Taxes with a capital t.
  1. Taxes on destroying the fauna
  2. Taxes on emitting pollution into the air
  3. Royalty payments
  4. All of the other taxes that apply to businesses
So, if the companies want to exploit the resources by destroying the environment, let them. But everything they do has consequences. Taxes is one of them.

3 comments:

  1. A handful of oil wells won't make Quebec into an oil-rich province.

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  2. I wonder what kind of other problems will arise regrading the fact that Quebec likes to think the Quebec Newfoundland & Labrador border is other than what the rest of world knows it to be including the Privey Council of 1922. Just another headache because Quebec will just want its own way like a child with a lollypop.

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  3. You're a bit late to the party. Questerre's find has been in the news for a month and the Utica shale gas play has been in the news for the last two or three years. Search for Junex, Gastem, Petrolia.

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