NWT premier says Arctic drilling ban emission restrictions hurt oil industry

N.W.T. premier says Arctic drilling ban, emission restrictions hurt oil industry Northwest Territories Premier Bob McLeod talks to media after being picked as premier for a second term in Yellowknife, Northwest Territories, Wednesday, Dec.16, 2015. McLeod will return to the job after winning a majority vote in the territorial legislature Wednesday. THE CANADIAN PRESS/Bill Braden by crystalladeras Posted Mar 15, 2017 11:56 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email CALGARY – The premier of the Northwest Territories is blasting federal policies including promises to restrict greenhouse gas emissions that he says will stifle a viable energy sector in theNorth.Bob McLeod told the Arctic Oil & Gas Symposium on Wednesday that a national carbon price and a five-year ban on drilling in the Arctic’s Beaufort Sea have created a “no-win situation” for his territory’s efforts to develop a strong resource economy.The federal government is proposing a carbon price of $10 per tonne in 2018 that would grow to $50 per tonne by 2022.The drilling ban was announced in December by Prime Minister Justin Trudeau, who said the measure was needed to protect the Arctic’s ecosystem.At the same time, then-U.S. president Barack Obama declared a permanent ban on drilling in the bulk of U.S.-owned waters in the Arctic Ocean, a move that U.S. Republicans have vowed to reverse under President Donald Trump.McLeod says if the U.S. ban is overturned, it will result in a competitive disadvantage for Canada’s North. read more