In 2016, the Government of Canada announced a ban on issuing new offshore oil and gas licences in Canadian Arctic waters. In 2019, the feds expanded those restrictions and prohibited any kind of oil and gas work on offshore Canadian Arctic waters. Jackie Jacobson, MLA for Nunakput, the N.W.T.’s northernmost electoral district, said he wants the moratorium lifted — to create jobs for his constituents. Matthews said the market is expected to reach its peak before companies would be able to bring Arctic oil to market, even if they started drilling tomorrow. The feasibility and environmental impact of Arctic offshore drilling is the subject of a science review commission by the federal government.

Source: CBC News January 04, 2023 20:18 UTC