The Council congratulates all those fighting against new oil and gas projects on today’s news that Bay du Nord, Equinor’s proposed offshore Newfoundland and Labrador project, will be delayed by at least three years due to “challenging market conditions,” according to a report from the CBC.
“This is excellent news,” says Yvonne Earle, a member of the Council’s Avalon chapter in N.L. who has been attending rallies and speaking against the project since it was announced in 2018. “Some will be disappointed with this announcement,” Earle said. “But it’s what the planet needs if we want to see a reduction in climate catastrophes like the extremes of hurricane Fiona last fall and this year’s dry spring, which has resulted in the wildfires happening in Nova Scotia today. This is another impetus for our provincial government to shift its economic strategy away from offshore oil and gas and to diversify strategically, being mindful of environmental impacts.”
This delay should be taken as a clear warning to oil and gas companies in Canada – it demonstrates that the world is moving away from fossil fuels and will be doing so more aggressively in the coming years. Canadians know that it is time to transition away from fossil fuel production to meet our climate commitment and ensure a livable planet for all, and it’s time for our governments to realize the same.
This announcement is worth celebrating – instead of investing in and locking ourselves into further fossil fuel production, this delay gives people and governments the opportunity to work towards a just transition away from fossil fuels that benefits workers and communities on a long-term, sustainable basis.