A subsidy by any other name: The problem with Bay du Nord’s royalties

The potential cost is hundreds of millions of dollars in royalties that must be paid

A subsidy by any other name: The problem with Bay du Nord’s royaltiesTwo weeks after Bay du Nord received environmental approval, the Canadian and Newfoundland and Labrador governments were arguing about who would foot the bill. The project promoted as the answer to Newfoundland and Labrador’s economic woes could end up costing hundreds of millions in revenue. Some backstory: according to the United Nations Convention on the…

Newfoundland’s Bay du Nord a bad investment

Both economically and environmentally

Newfoundland’s Bay du Nord a bad investmentAs wildfires destroy whole communities, coastal towns lose their shorelines and fisheries, and half the world’s population faces dangerous climate impacts, a contentious project sits before the Liberal cabinet. Bay du Nord is a proposed oil development 500km off the coast of Newfoundland and Labrador. Industry lobbyists assure us of “green oil production,” low environmental…