Media Statement, For Immediate Release: May 31st, 2023

Sierra Club Canada has long questioned the economics of the Bay du Nord project which would have no strong footing in a world that is rapidly decarbonizing. World experts on energy and climate change have been clear that no further oil and gas projects can go ahead in order to meet climate targets and that investing in them is also a bad idea economically.

“This decision to put Bay du Nord on hold for three years speaks to the general uncertainty of all the proposed offshore oil projects off NL and says more than ever that Newfoundland and Labrador must chart a new course in order to have a long term sustainable economic future,” says Conor Curtis, Head of Communications at Sierra Club Canada. “It is irresponsible of oil companies to claim these projects have stability when they don’t, and people need to know that these projects don’t have stability now in order to make the right decisions for the future. The provincial and federal governments must work rapidly towards a decarbonized economy for NL instead of betting on further oil and gas expansion.”

The organization says it hopes Equinor will cancel the project outright in order to send a clear message on the need to decarbonize economies and meet our climate targets. Sierra Club Canada also say they are not going away and will still be here in three years if necessary calling for this project to be cancelled.

“We are seeing first hand the impacts of climate change in Canada in the form of wildfires that are devastating whole communities, and that is just one impact of our continued economic reliance on fossil fuels,” adds Curtis. “We know that expanding oil and gas extraction under these circumstances is unacceptable and that climate change will only be worse in three year’s time. We will continue in our efforts to prevent Bay du Nord and the destructive impact this project’s oil would have on people here and around the world if extracted and burned.”