Canada: politics converts a boom to potential bust

Journal Article · Sun Feb 15 00:00:00 EST 1981 · World Oil; (United States)

OSTI ID:6229157

Maciej, H

At the start of the decade, the Canadian Petroleum Industry was poised for an expenditure and activity breakout to take Canada off the world oil market and make the country secure and self-sufficient in oil supplies by the time the 1990s roll around. Then, on October 28, 1980, the government of Canada unveiled its National Energy Program (NEP). Instead of clearing the tracks for growth, the NEP put the brakes on industry. Therefore, instead of setting drilling records, getting into high gear on the long-delayed oil sands Mega-Projects, and increasing exploration in the promising offshore areas, budgets are being cut by as much as 50%, major projects are being shelved, and an exodus of drilling rigs to the US is underway. Designed to deliver the election promises of the last federal compaign, the NEP is producing a crisis of confidence and shortages instead of progress toward self-sufficiency.

• OSTI ID: 6229157
• Journal Information: World Oil; (United States), Vol. 192:3
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
GOVERNMENT POLICIES
POLITICAL ASPECTS
PETROLEUM INDUSTRY
BUDGETS
CANADA
CONSTRAINTS
ECONOMICS
EXPLORATION
NATURAL GAS
OFFSHORE DRILLING
OIL SANDS
PETROLEUM
REGULATIONS
BITUMINOUS MATERIALS
CARBONACEOUS MATERIALS
DRILLING
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
INSTITUTIONAL FACTORS
MATERIALS
NORTH AMERICA
021000* - Petroleum- Legislation & Regulations
294002 - Energy Planning & Policy- Petroleum
293000 - Energy Planning & Policy- Policy
Legislation
& Regulation