Nova Scotia spending $12 million to encourage offshore oil and gas exploration

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HALIFAX - The Nova Scotia government will spend $12 million over four years to fund research to assist oil and gas exploration off the province's coastline.

The government says the research will provide a geological map of Nova Scotia's offshore potential to the oil and gas industry.

BP Canada president Stephen Willis says a previous analysis provided by the province was behind its decision to bid on leases in 2012.

The government is also crediting the Project Fairway Analysis program with playing a role in persuading BP Canada and Shell Canada to launch major exploration projects.

The announcement comes days after the Canada-Nova Scotia Offshore Petroleum Board announced it's seeking new bids to explore parcels of its offshore territory.

The deadline for those bids is October 30th.

Organizations: BP, Shell Canada, Canada-Nova Scotia Offshore Petroleum Board

Geographic location: Nova Scotia, HALIFAX, Canada

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  • SUB SID IZED
    May 13, 2014 - 20:04

    ...why are we subsidizing fossil fuels?...we need clean energy technology and that is where government should invest taxpayers money ...so lets stop subsidizing the air pollution that gives us cancer...one thing that slowed adaption of solar and wind was huge subsidies on "biofuels" back in 2009...the subsidies amounted to $1.00 / gallon...(20-25%) ...cut dirty oil off because the pollution is harming all life including our crops ( plus Bush announced the fake economic crises they also cut off plenty of venture capital financing for large scale wind farms and solar companies) ...put the subsidies on clean energy and you will see the OIL companies invest more heavily in wind and solar ...they are investing now but they are also waiting to lead the change....they will always be the energy giants ...it is up to us to tell government to clean up the playing field...DUH!!!!