The Old Harry formation is one of the largest undrilled prospects in Eastern Canada. Corridor Resources, the company which holds licences from the Quebec government covering about 60 per cent of Old Harry, estimates the field has the potential to hold up to two billion barrels of recoverable oil or up to five trillion cubic feet of recoverable gas.
That would be almost twice the size of the Hibernia oil project off Newfoundland and Labrador. Old Harry has remained undrilled because Quebec and Ottawa have not struck a deal yet on oil and gas management and revenue sharing.
IF THEY CAN DO IT JUST NORTH OF US. WHY CAN'T WE?
IF THE BRITS AND THE NORWEGIANS CAN DRILL IN THE NORTH SEA, THEN WHY CAN'T WE OFF OUR COASTS?!
BECAUSE OF THE LEFTISTS, THAT'S WHY.
THEY HAVE THE SAME PROBLEM DOWN SOUTH - IN MEXICO; NYTIMES:
To the Mexican people, one of the great achievements in their history was the day their president kicked out foreign companies in 1938. Thus, they celebrate March 18 as a civic holiday.
The effort to develop the geologically challenging Chicontepec field is deteriorating into an embarrassing setback for Pemex.
Yet today, that 72-year-old act has put in a straitjacket, one that threatens both the welfare of the country and the oil supply of the United States.
The national oil company created after the 1938 seizure, Pemex, is entering a period of turmoil. Oil production in its aging fields is sagging so rapidly that Mexico, long one of the world’s top oil-exporting countries, could begin importing oil within the decade.
Mexico is among the three leading foreign suppliers of oil to the United States, along with Canada and Saudi Arabia. Mexican barrels can be replaced, but at a cost. It means greater American dependence on unfriendly countries like Venezuela, unstable countries like Nigeria and Iraq, and on the of Canada, an environmentally destructive form of oil production.
“As you lose Mexican oil, you lose a critical supply,” said Jeremy M. Martin, director of the energy program at the Institute of the Americas at the . “It’s not just about energy security but national security, because our neighbor’s economic and political well-being is largely linked to its capacity to produce and export oil.”
Mexico probably still has plenty of oil, especially beneath the deep waters of the Gulf of Mexico, but Pemex lacks the technology and know-how to get it out. Inviting foreign companies into the country to help is one of the touchiest propositions in Mexican politics.
As the Mexican government struggles to find a way forward, production keeps falling.
SO, IN MEXICO, THE LEFT IS PREVENTING THEM FROM MAINTAINING THEIR OIL INDUSTRY.
JUST LIKE HERE.
IF WE WANT TO BECOME ENERGY INDEPENDENT, WE NEED TO THROW THE LEFTISTS OUT OF OFFICE.
IT'S THAT SIMPLE.
If the left had their way we would stop drilling everywhere, but they just don't have the power to do that. I don't know what the left elite many of whom fly across the country think airplanes fly on---maybe all their hot air. Pemex is going belly up and like you say lack the technology to drill in the deep waters in the Gulf.
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