Marois government investing millions for Gaspe oil drilling

Quebec Premier Pauline Marois makes oil exploration announcement

Premier Pauline Marois made the last minute announcement late this afternoon in Montreal along with her finance, environment and natural resources ministers.

The deal with Petrolia means a $100 million dollar investment by the government and the company along with associate partners; the agreement in principle with Junex means a $90-million dollar investment. The government is kicking in almost $115-million dollars. The government would get a majority share of the land permits and benefits linked to the projects.

The first phase of the project involves seeing what type and how much oil they may find; the second phase determines if recuperating the oil is viable.

If it all works out, the Quebec government foresees economic spin-offs estimated at $45-billion over 30 years.

On the risk involved, Premier Marois said there have been bigger risks in projects just as big, adding they've taken risks before and this is a reasonable one.

Marois dismissed notions that this announcement was pre-election strategy, insisting they've been working on this since June 2012.

"A long time ago, we had a discussion in my party and we decided to go in this direction," Marois told a news conference.

"That is not for the election that has not been announced (...)."

The drilling work is expected to get underway this summer.

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  1. barry w posted on 02/13/2014 07:04 PM
    Can anyone else get in on this gravy train, other than the unions and the friends of pauline?
  2. Barcham posted on 02/13/2014 07:30 PM
    In other news...the PQ has announced that they will invest another $50 million in the hunt for Bigfoot as recent sightings have noticed that he speaks English and they wish to deport him.

    Well, c'mon! That makes as much sense as drilling for oil in Gaspe!!!
  3. LMAO posted on 02/14/2014 08:09 AM
    I'm sure this brings great comfort to the sick and elderly lying in our hospital hallways.waiting for a bed.
  4. maria posted on 02/14/2014 09:58 AM
    I can not believe at the same moment that she is making these grand gesturers of investing our tax money, she is cutting were the money is really needed Health care and something so crucial as cancer treatment!!! This woman has no concept what she is doing to the mental state of people who are really sick, she is adding this extra burden of stress
    which especially cancer patients do not need. besides the cuts she has already made to the schools of every level from kindergarten to university!!! These cancer patients do not have the time to wait 30 years to see how this investment pans out, they need the money in treatment now, she can not tell sick people were to go to get treated,were are we in
    some communist state???
  5. More BS posted on 02/15/2014 08:47 AM
    And cutting funding to hospitals.
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