Is Nova Scotia’s gas industry about to go up in smoke?
Once upon a time, Nova Scotia was home to an impressive pair of firsts in Canadian offshore oil and natural gas production. The country’s first offshore oil project, Cohasset Panuke, was about 250 km southeast of Halifax on the Scotian Shelf. It produced 44.5 million barrels of oil between 1992-99. Canada’s first offshore natural gas project, Sable Offshore Energy Project, encompassed seven production platforms spread over 200 square kilometres near Sable Island. It operated from 1999-2018 and produced 2.1 trillion cubic feet of natural gas. A third project, Deep Panuke, ran from 2013-18 and produced 147.2 billion cubic feet of natural gas. Since 1999, royalties from Nova Scotia’s offshore projects have totalled $2 billion.
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Governments can stop the unequal distribution of wealth, they just don't have the guts
I know, I know. I’ve been down this rich-get-even-richer rabbit hole too many times already. Before COVID did what it did to the economy. Before Donald Trump did what he did to the world. Before Justin Trudeau did what he did to… But I digress. Even as I write these words, the inequality gap between the rich and the rest is almost certainly widening from its greater gulf into its yawning chasm and then the canyon that can’t be crossed, and then, well.
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