Economic Strategy Scorecard

[-Harlington-]

Halifax port business looking up

ROGER TAYLOR
Sat. Apr 24 - 4:54 AM






THERE ARE benefits to competition, and that’s especially true for a federal agency like the Halifax Port Authority.

Halifax is considered a "discretionary" port because the bulk of the cargo handled here is headed somewhere other than the Atlantic region.

So the port is constantly battling to hold on to business while trying to drum up more customers.

It seems to me that a decline in port commercial activity in Halifax over the last several years, just as some rival ports were successfully building their business, has heightened a sense of urgency to turn things around in Halifax.

Add to that the possibility that private developers will soon build a rival container terminal in Melford at the Strait of Canso and it’s easy to see that Halifax port managers are challenged to stay relevant.

I think for too many Nova Scotians it’s easy to take for granted the tremendous asset Halifax Harbour represents, but occasionally something comes along to remind us.

Earlier this week, I flipped on the television to watch Jeopardy and was surprised to hear one of the clues was about Halifax. It went something like, "This Nova Scotia city has one of the world’s largest harbours."

I was equally surprised when the contestant answered correctly.

It’s not shocking that one of the most famous things about Halifax is its naturally deep and ice-free harbour, but it is equally true that Halifax Harbour can’t live off its deep reputation alone.

Statistics show the container business in Halifax has rebounded from the first-quarter lows reported last year, but it is clear that the container business hasn’t returned to pre-recession levels.

This is all pushing the port authority to invest in infrastructure, which is aimed at bringing more business to Halifax.

The port authority and the federal government are spending $75 million to upgrade the Richmond Terminal in the city’s north end and another $35 million is being spent to dredge Pier C in the south end.

The dredging will allow that pier to accommodate two of the largest ships in the world simultaneously.

I’m not sure if the promise of port improvements is helping to make the case for Halifax, but over the past year five shipping lines were convinced to start calling.

Today, there are 19 lines serving Halifax. This week, one of those lines, CMA-CGM, announced it would be adding a ship to increase the frequency of its calls on Halifax.

And there are unconfirmed reports that Maersk Line will soon return to Halifax for a weekly service.

All that is good news, but don’t expect the competition to let up.

Bob Stevens, CEO of Melford International Terminals Inc., the Halifax company pushing forward with plans to build the terminal at the Strait of Canso, says he’s pleased Halifax is showing signs of improvement. It helps to make the case for Nova Scotia as the first port of call for vessels crossing the Atlantic to North America, and the last call for vessels headed in the other direction.

The Melford terminal backers plan to employ modern technology at the Strait terminal, which aims to offer customers a faster and better alternative to rival ports on the east coast of North America, not just Halifax.

While some may question whether the Melford group is serious about putting its plan into action, the proponents are being taken seriously elsewhere.

Stevens and his partners in Halifax-based Trident Holdings Inc., the original proponent of the Melford terminal project, have a contract with the State of Louisiana to develop a comprehensive port master plan and port development plan for Plaquemines Parish, near New Orleans.

( rtaylor@herald.ca)



i think a Halifax Ports thread would better suite this but i thouht id post this here since everyone else is.

[fenwick16]

CMHC data show that Halifax area housing starts increased significantly in April 2010 compared to last year.

April Housing Starts in Halifax

HALIFAX, May 10 /CNW/ - New residential construction in Halifax increased last month compared to April 2009. According to Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1) released today for Halifax, there were 223 housing starts last month, more than twice the 84 starts recorded in April 2009. Single starts increased from 66 to 80 units while multiple starts surged from 18 to 143 units.

"The April figures were supported by a high level of apartment construction with 98 new units started and by semi-detached and row house construction with 45 new units started," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "The single-detached market strengthened in April with 21 per cent growth compared to last April. The increased level of residential construction activity reflects the generally supportive economic conditions of stable employment and wages in Halifax," Gilmore added.

In urban centres across Canada in April there were 14,995 total housing starts, 79 per cent more than the 8,387 starts recorded in April of 2009. There were 6,774 single-detached starts last month, an increase of 79 per cent compared to April of 2009. Multi-residential starts were also up 79 per cent to 8,221 in April of 2010. In Atlantic Canada, there were 573 urban housing starts posted compared to 419 in April of last year, an increase of 37 per cent.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

-------------------
(1) Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.

(Ce document existe également en français)

-------------------------------------------------------------------------
PRELIMINARY URBAN MONTHLY HOUSING STARTS
NOVA SCOTIA SUMMARY
-------------------------------------------------------------------------
2010 2009 YEAR-TO-DATE
--------------- % Change -------------- % Change
APR APR 2010 2009
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
-------------------------------------------------------------------------
HALIFAX CMA
Single 80 66 21.2% 296 170 74.1%
Multiple 143 18 (XX) 393 188 (XX)
TOTAL 223 84 (XX) 689 358 92.5%
-------------------------------------------------------------------------
CAPE BRETON RGM
Single 10 1 (XX) 22 15 46.7%
Multiple 0 0 - 10 10 0.0%
TOTAL 10 1 (XX) 32 25 28.0%
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
-------------------------------------------------------------------------
ALL CENTRES*
Single 103 104 -1.0% 432 269 60.6%
Multiple 144 24 (XX) 429 224 91.5%
TOTAL 247 128 93.0% 861 493 74.6%
-------------------------------------------------------------------------
Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.

The Chronicle Herald has an interesting take (I had to scratch my head when I saw the title) on the same statistics. They took positive numbers and made it sound like it was a poor result, at least in the title and the first few paragraphs and then by the end of the story they say that it indicates increased migration to the Halifax area.

Halifax housing slows

By ROGER TAYLOR Business Columnist
Tue. May 11 - 6:50 AM

Housing statistics released Mon­day show that Halifax continues to have the strongest housing market in Nova Scotia by far.

Halifax housing prices grew by about five per cent during the first quarter this year, compared with the same period last year.

But housing market expert Mat­thew Gilmore says prices aren’t likely to continue rising at the same rate for the rest of the year.

Gilmore, a senior market analyst with Canada Mortgage and Housing Corp. in Halifax, says he is expecting price growth to slow down to about three to five per cent as the year pro­gresses. That growth rate is lower than it has been for most of the last decade.

“Last year was little bit slower, but previously, we were averag­ing six to seven per cent (growth) for 10 years."

The Halifax market was slow­er during the first quarter of 2009 due to economic uncertain­ty, so the price growth experienced so far this year looks more pronounced than it otherwise would, he says.

“There’s about a $100,000 price difference for an average existing home and an average new (one). The average existing (home) is about $240,000 and the average new (one) is about $340,000. That gives you some indication that what we build is just a little more elaborate than what’s available in the existing home mar­ket."

April statistics from CMHC for Halifax show there were 223 housing starts last month, more than twice the 84 starts record­ed in April 2009. Construction of single­family homes started in April increased to 80 from the 66 starts recorded in April 2009.

And in the apartment-building category, 143 units were started in April, compared with 18 units during the same month last year.

In Cape Breton Regional Municipality, construction was started on only 10 single­family homes in April, and there was no apartment construction. If you subtract the Halifax and Cape Breton starts from pro­vincial statistics for all urban centres with populations of 10,000 or more, there were only 13 single-family homes started in the rest of Nova Scotia in April.

The housing statistics provide more evi­dence that Halifax continues to grow as people migrate to jobs and take advantage of other opportunities.

So far this year, there have been 689 hous­ing starts in the Halifax area for the period that ended April 30, compared with 358 starts in the first four months of 2009. That may not be a fair comparison, considering that the first four months of last year were at the height of the financial crisis.

But Gilmore says the starts so far this year are more in line with housing construction in 2008 and 2007.

“If we look at total starts, we’re sitting at 689. In ’08 at this time, we had 605 (starts), and the year before that, we had 560," he says. “We have more people moving to Hali­fax than moving away. When you’re talking local people . . . they tend to be younger, in the 20-something age group, and that is one of the largest sources of new people to the city."

When you add a growing immigrant pop­ulation to that, Gilmore says it creates rental demand.

(rtaylor@herald.ca)

[fenwick16]

The manufacturing numbers in Canada continue to improve. New Brunswick is the manufacturing hot spot in the Atlantic Provinces (and ahead of places like Manitoba and Saskatchewan). If you add the numbers for all three Maritime provinces, the manufacturing numbers are in the same ballpark as the British Columbia manufacturing numbers.

I would like to see manufacturing increase in Nova Scotia. It would be good to see it match the NB numbers.

(source: http://www.statcan.gc.ca/daily-quoti...00715a-eng.htm )

[halifaxboyns]

Wow - I knew Ontario was the manufacturing heartland - but the gap between Ontario and the next biggest Province with manufacturing is incredible - it's virtually double!

Well with the recent landing of the wind power plant with Daewoo will help increase that number. I'm also hopeful that if oil exploration increases, that will bring some off-shoot industries for oil exploration and development that requires manufacturing.

[sdm]

I was too hopefully offshore exploration would increase, but it seems now that won't be happening. This is a big blow to the economy and there is news today that Exxon is looking to shed its presence here in Halifax.



N.S. natural gas production at all-time low
Last Updated: Wednesday, July 21, 2010 | 9:12 AM AT

CBC News

ExxonMobil announced it will not extend the life of its Sable Offshore Energy Project. (CBC) New figures from the Canada-Nova Scotia Offshore Petroleum Board show the volume of natural gas produced so far this year from offshore fields near Sable Island are the lowest since production began in 1999.

Gas production was down 14 per cent from 2009, a year in which royalties to the province peaked at $450 million.

ExxonMobil's Sable Offshore Energy Project pumped 1.67 billion cubic metres of gas in the first six months of this year.

ExxonMobil announced earlier this month that it will not extend the life of the project, saying the decision was based on "project economics."

The project has generated $1.3 billion in royalties for the province since production began more than ten years ago.

Nova Scotia's only other natural gas project is slated to come online in early 2011. EnCana will produce natural gas from the Deep Panuke field, located about 250 kilometres southeast of Halifax on the Scotian shelf.

Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uKVebq6x



Exxon ends N.S. natural gas project

Decision not to extend life of Sable Basin gas field 'a real problem', industry says
Last Updated: Thursday, July 8, 2010 | 9:59 PM

CBC News

ExxonMobil announced it will not extend the life of its Sable Offshore Energy Project. (CBC) Nova Scotia's offshore natural gas industry received a blow Thursday when ExxonMobil announced it will not extend the life of its Sable Offshore Energy Project.

The company made its decision after evaluating significant untapped discoveries in the Sable Basin.

In March, ExxonMobil applied to conduct seismic testing to explore two previously identified gas fields under the seabed east of Sable Island.

The decision not to proceed was based on "project economics," ExxonMobil spokesperson Merle MacIsaac said Thursday.

The end of the line for Sable, which has a life expectancy of about 25 years, is bad news for the Nova Scotia government.

The project has generated $1.3 billion in royalties since production began in 1999.

"Its discouraging. This is a real problem," said Paul McEachern, managing director of the Nova Scotia Offshore/Onshore Technologies Association, a trade group for the oil and gas industry.

The Canada-Nova Scotia Offshore Petroleum Board said there were no takers when it put two parcels of land up for bid in the Sable Basin. (www.cnsopb.ns.ca) "We were informed by ExxonMobil today. They've told us they can't proceed with it because the price of gas is at a record low. They tell us they are looking for a third party to help them develop these fields, but the economics are not there."

Natural gas prices have plummeted in recent months. Futures for August delivery declined 17 cents, or 3.6 per cent, to $4.40 per million British thermal units on Thursday. It was the lowest close for natural gas since June 1.

News of Exxon's decision came just hours after the Canada-Nova Scotia Offshore Petroleum Board announced that there were no takers when it put two parcels of land up for bid in shallow waters within the Sable Basin.

MacIsaac said the two events "are not unrelated, but this was the result of a separate exercise where we evaluated the significant discovery licences in the area."

Nova Scotia's only other natural gas project is slated to come online in early 2011. EnCana will produce natural gas from the Deep Panuke field, located about 250 kilometres southeast of Halifax on the Scotian shelf.


Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uKVw0SGV



Exxon pullout 'serious morale kick' in N.S.
Last Updated: Friday, July 9, 2010 | 10:23 PM AT

ExxonMobil has announced it will not extend the life of its Sable offshore energy project. (CBC)

Nova Scotia Energy Minister Bill Estabrooks says the news that ExxonMobil will not extend the life of its Sable offshore energy project is a "huge concern" for the government.

"We're looking at the fact that we have had some good income over the last couple of years, but it's something that we're going to address in a timely fashion and we're going to continue to make some of the tough budgetary decisions ahead," he said.

The project has generated $1.3 billion in royalties for the Nova Scotia government since production began in 1999.

A senior policy analyst with the Atlantic Provinces Economic Council said the loss of hundreds of million of dollars of revenue will have a significant impact on the province's finances.

"It's obviously fairly significant to the government — $173 million this year. That's a lot of revenue to make up. Obviously, if the government had to make that up with another HST increase, they'd have to probably increase the rate by 1.5 or two per cent, to put it in perspective."

ExxonMobil made its decision after evaluating significant untapped discoveries in the Sable Basin. In March, the company applied to conduct seismic testing to explore two previously identified gas fields under the seabed east of Sable Island.

The decision not to proceed was based on "project economics," said ExxonMobil spokesperson Merle MacIsaac. He said the company considered factors such as the cost of development and assumptions around price before deciding not to develop other discoveries near Sable Island.

"It's a serious morale kick," said Paul McEachern, managing director of the Nova Scotia Offshore/Onshore Technologies Association, a trade group for the oil and gas industry.

"There are hundreds of people in this province that depend on Sable gas to make a living. There are a lot of hospitals and a lot of roads that depend on Sable natural gas royalties."

A second, smaller offshore project is expected go into production at Deep Panuke in 2011. EnCana will produce natural gas from the Deep Panuke field, about 250 kilometres southeast of Halifax on the Scotian shelf.

"The glass is half-full, it's not empty. It's not full stop, we're just in neutral for a while," Estabrooks said.


Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uKW9qZmR

[sdm]

ExxonMobil Canada moving to St. John's

Last Updated: Wednesday, July 21, 2010 | 2:06 PM AT
CBC News

ExxonMobil Canada's new president has decided to set up shop in Newfoundland and Labrador instead of Nova Scotia.

The company confirmed Wednesday that incoming president Meg O'Neill will be switching operations to St. John's from Halifax sometime in August.

A company spokesperson told CBC News the move reflects the company's level of activity in Newfoundland's offshore oil industry.

ExxonMobil is currently involved in the Hebron, Hibernia and Terra Nova oilfields. The company is one of the region's biggest players in the province's offshore industry and is currently involved in oil exploration, development and production.


Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uL4vWByv

[halifaxboyns]

Originally Posted by sdm

ExxonMobil Canada moving to St. John's

Last Updated: Wednesday, July 21, 2010 | 2:06 PM AT
CBC News

ExxonMobil Canada's new president has decided to set up shop in Newfoundland and Labrador instead of Nova Scotia.

The company confirmed Wednesday that incoming president Meg O'Neill will be switching operations to St. John's from Halifax sometime in August.

A company spokesperson told CBC News the move reflects the company's level of activity in Newfoundland's offshore oil industry.

ExxonMobil is currently involved in the Hebron, Hibernia and Terra Nova oilfields. The company is one of the region's biggest players in the province's offshore industry and is currently involved in oil exploration, development and production.


Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uL4vWByv

This is a serious problem - I can't believe they'd choose St. John's over Halifax? Way better place to setup is Halifax; the access and economics seem to be better.

I wonder if there is an issue of royalties? Could NS have the royalties too high for the current economic situation?

Well if they pull out someone else will come in I'm sure. The fact is the natural gas is really low so until the value starts coming back up; it's rough for many off shore projects.

[sdm]

Originally Posted by halifaxboyns

This is a serious problem - I can't believe they'd choose St. John's over Halifax? Way better place to setup is Halifax; the access and economics seem to be better.

I wonder if there is an issue of royalties? Could NS have the royalties too high for the current economic situation?

Well if they pull out someone else will come in I'm sure. The fact is the natural gas is really low so until the value starts coming back up; it's rough for many off shore projects.

I wish this was the case, but the province recieved zero bids on the last round of parcels for exploration (just annouced a few weeks ago). Not even recieving one bid is very serious problem in my mind.

If the royalities continue to drop, which they are, the debt is actually going to increase and the spending the government is doing cannot be sustained. I would think the budget was based on a reasonable amount of royalities, and if they are considerably less then economically there could be big problems.

[fenwick16]

Originally Posted by sdm

N.S. natural gas production at all-time low
Last Updated: Wednesday, July 21, 2010 | 9:12 AM AT

CBC News

ExxonMobil announced it will not extend the life of its Sable Offshore Energy Project. (CBC) New figures from the Canada-Nova Scotia Offshore Petroleum Board show the volume of natural gas produced so far this year from offshore fields near Sable Island are the lowest since production began in 1999.

Gas production was down 14 per cent from 2009, a year in which royalties to the province peaked at $450 million.

ExxonMobil's Sable Offshore Energy Project pumped 1.67 billion cubic metres of gas in the first six months of this year.

ExxonMobil announced earlier this month that it will not extend the life of the project, saying the decision was based on "project economics."

The project has generated $1.3 billion in royalties for the province since production began more than ten years ago.

Nova Scotia's only other natural gas project is slated to come online in early 2011. EnCana will produce natural gas from the Deep Panuke field, located about 250 kilometres southeast of Halifax on the Scotian shelf.

Read more: http://www.cbc.ca/canada/nova-scotia...#ixzz0uKVebq6x

I find that these reports are somewhat misleading. They aren't stating that they are shutting down the operation, but that they are not going to bring other fields on line for now because of low gas prices. There isn't any information in these reports about how much longer they expect the Sable field to be a viable producing field. I read this to mean - that it could be at least 10 years longer (since it has an estimated 25 year life and it has been in operation since 1999), but they aren't doing anything to extend it beyond that point. However, Deep Panuke comes on line in 2011 so there will be a spike in production at that point.

I still keep wondering where the oil is, since, although I am not an expert, I would expect there to be oil associated with natural gas (natural gas is the lightest fraction of fossil fuels). Natural gas is being exploited everywhere it seems - shale gas, landfill site gas, etc. There is even a way to speed up the natural process and convert biological waste to oil - http://www.andrewkantor.com/useful/mittdp.pdf. Waste chicken parts are being converted to oil, so waste fish parts could also be converted to oil.

I wouldn't get too down about this. After all, places like British Columbia and Ontario are doing very well without significant reserves of oil and gas. Nova Scotia has to use it highly skilled workforce and stop driving developers from the province. This is one more reason why Halifax needs the new convention centre, it can't depend on gas and oil.

[sdm]

Originally Posted by fenwick16

I find that these reports are somewhat misleading. They aren't stating that they are shutting down the operation, but that they are not going to bring other fields on line for now because of low gas prices. There isn't any information in these reports about how much longer they expect the Sable field to be a viable producing field. I read this to mean - that it could be at least 10 years longer (since it has an estimated 25 year life and it has been in operation since 1999), but they aren't doing anything to extend it beyond that point. However, Deep Panuke comes on line in 2011 so there will be a spike in production at that point.

I still keep wondering where the oil is, since, although I am not an expert, I would expect there to be oil associated with natural gas (natural gas is the lightest fraction of fossil fuels). Natural gas is being exploited everywhere it seems - shale gas, landfill site gas, etc. There is even a way to speed up the natural process and convert biological waste to oil - http://www.andrewkantor.com/useful/mittdp.pdf. Waste chicken parts are being converted to oil, so waste fish parts could also be converted to oil.

I wouldn't get too down about this. After all, places like British Columbia and Ontario are doing very well without significant reserves of oil and gas. Nova Scotia has to use it highly skilled workforce and stop driving developers from the province. This is one more reason why Halifax needs the new convention centre, it can't depend on gas and oil.

I agree that we need to find other industries to support the province, but in fairness a new convention centre will not yield 450 million in royalities to the province per annun, which is mandated to pay down our debt. A new convention centre will add to this debt. I suspect there will need to be significant cuts made over the next few years to keep the debt from growing.

Furthermore, now the details of companies i neglected to mention that are contracting here are becoming news. There has been more in this industry, and there are few more to come. The reason i hate the sounds of this is the fact that this will open up space downtown in existing buildings, of which will make new developments even tougher to fill as existing space will be siginficantly cheaper.

[beyeas]

Originally Posted by sdm

The reason i hate the sounds of this is the fact that this will open up space downtown in existing buildings, of which will make new developments even tougher to fill as existing space will be siginficantly cheaper.

Yeah that was one of my 1st thoughts too.

[halifaxboyns]

What I'm gathering from this is that they are moving their offices from Halifax to St. John's, but still retaining the drilling rights - correct me if I'm wrong.

I suspect they won't give up those rights anytime soon and I hate to say it but if they have a significant work going on off NFLD - then maybe they should focus there, for now.

Ultimately; with oil and gas being at the low end of the scale - off shore oil isn't profitable (at least not like it used to be). They typically need oil to be in the $100/barrel range; which is why I keep hoping it goes up to at least $90. Same with natural gas, I think it needs to be around $6 to $7 to make offshore drilling workable.

I found this map on the government of Nova Scotia website - I found it interesting.
Map of off shore drilling locations

Someone on the CBC forum made a point of something; which I also think is reasonable. Oil is running out and isn't easy to find. There is a concerted effort to move away from oil; with renewable options growing. So with the recent entry of Daewoo into Nova Scotia; perhaps where the jobs are is in Green options like building solar and wind power systems, or tidal systems?

Setup tax credits and investment funds to encourage these manufacturing groups to setup shop in Nova Scotia - in some of the small centres needing jobs, but still along major rail lines so that the materials can be easily shipped? Trenton is along the rail line, Port Hawksberry could be another site. Wolfville, Kentville and Windsor are along the valley rail line and even some stuff in HRM's industrial areas would work. Although I'd focus the tidal power stuff more in the valley; since it would be near the Bay of Fundy.

There are literally hundreds of components in a wind turbine, solar collector or a tidal power generator - this could be quite lucrative.

[PoscStudent]

Originally Posted by halifaxboyns

This is a serious problem - I can't believe they'd choose St. John's over Halifax? Way better place to setup is Halifax; the access and economics seem to be better.

I wonder if there is an issue of royalties? Could NS have the royalties too high for the current economic situation?

Well if they pull out someone else will come in I'm sure. The fact is the natural gas is really low so until the value starts coming back up; it's rough for many off shore projects.

Exxon Mobil will most likely save a lot of money by relocating to St. John's seeing it is where their major operations are, as well taxes are a lot lower in Newfoundland and Labrador then Nova Scotia. Exxon Mobil was also thinking of building an office building in St. John's so that may also be another major reason to move.

[halifaxboyns]

Originally Posted by PoscStudent

Exxon Mobil will most likely save a lot of money by relocating to St. John's seeing it is where their major operations are, as well taxes are a lot lower in Newfoundland and Labrador then Nova Scotia. Exxon Mobil was also thinking of building an office building in St. John's so that may also be another major reason to move.

Well yet another thing we can thank the previous PC and liberal governments for - such an astounding amount of debt that in order for us to pay it down; we have to raise taxes and screw ourselves out of good and viable industries.

Although a part of my brain can't help but fall back to the idea that if they have so much operations in NFLD - this may be a one off thing. Most of the other players have more operations here - than in NFLD (am I wrong?).

If that is the case (and I'm right) then to me it seems fair that NF get some of the spin offs - so let them have it. Besides, when they go to build their office building they can tower over downtown St. John's with their huge 8 storey building.

[PoscStudent]

Originally Posted by halifaxboyns

Most of the other players have more operations here - than in NFLD (am I wrong?).

What do you mean? What players are you talking about?

[someone123]

The way these resources are handled in Canada is pretty messed up. The royalties should be paid to the federal government, not the provinces. Ideally, in a fair world nobody would have a privileged monopoly over resources simply because they happened to live close to them (or not close at all, but within the same arbitrary political entity) or, worse yet, decided to forcibly take them.

[halifaxboyns]

Originally Posted by PoscStudent

What do you mean? What players are you talking about?

According to the map I found on the Government of Nova Scotia - there are other players in offshore oil here in Nova Scotia; but the only one I was aware that was operating was Exxon.

[sdm]

Originally Posted by halifaxboyns

According to the map I found on the Government of Nova Scotia - there are other players in offshore oil here in Nova Scotia; but the only one I was aware that was operating was Exxon.

Encana is due to commence operation (flow) in 2011, which will mean they to will probably downsize significantly there presence here as they have hired a 3rd party to run the operations thereafter.

[PoscStudent]

How much office space did Exxonmobil have and where were they located?

[sdm]

Originally Posted by PoscStudent

How much office space did Exxonmobil have and where were they located?

Exxon have their offices in Founders Square