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CANADIAN INDUSTRY ONLINE - JANUARY 2012
SPECIFIC JURISDICTIONAL
BENEFITS ARE HIGHLIGHTED AS
FOLLOWS:
IN NEWFOUNDLAND AND
LABRADOR
• $16 b i l l i on in capi tal has been spent
by the o i l and gas indus t r y in NL s ince
1995
• Over 3,000 peopl e are di rec t l y
emp l oyed by the indus t r y. Thousands
more work in the suppl y and ser v i ce
sec tor.
IN NOVA SCOTIA:
• The prov inc i al government rece i ved
over $1.5 b i l l i on in royal t y - re l at ed
revenues f rom year s 1996 to 2008.
• From 1996 to 2007, total
emp l oyment (d i rec t and ind i rec t ) has
been approx imat e l y 38,500 per son -
year s , or an average empl oyment
of about 3,200 per year ( ful l - t ime
equi val ent ) .
• Of f shore royal t i es suppor t soc i al
programs , inf ras t ruc ture deve l opment ,
educat i on and t ra ining; R&D; and debt
reduc t i on, among other things .
THE NORTH:
• The o i l and gas indus t r y can make a
s i gni f i cant cont r i but i on to the federal
Nor thern St rat egy, by prov i ding sk i l l s
t ra ining and j obs and cont r i but ing to
the soc i a l and economi c we l l - be ing of
communi t i es , and thereby cont r i but ing
to Canadi an sovere i gnt y in the Nor th.
• Fur ther, the ind i rec t benef i t s in a l l
of f shore reg i ons ex t end beyond these
number s , as the t echno l ogy, sk i l l s and
inf ras t ruc ture c reat ed to suppor t o i l
and gas indus t r y spur s ac t i v i t y and
growth in other areas .
**Care of CAPP
“
We must all work together to ensure the regulatory
system is designed to mitigate and manage risk in a
way that is deemed to be suf ficiently protective and
recoverable such that Canada can continue to benefit
from the developments of its of fshore resources.”
COVER STORY - OFFSHORE OIL