No Takers Yet on Nechako Basin Exploration

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Minister Bill Bennett says we will need to sweeten the pie to get some exploratory drilling to take place for gas and oil in the Nechako basin.

"We have to look at offering more incentive for the drilling companies to come here" said Bennett, "we may not be getting any revenue now, but we have to look at it as a cost in order to get some revenue in the future." 

Bennett says in spite of incentives that have been made available for exploratory drilling there have been no takers in the Nechako basin. "We have invested 425 million into Geo science in this region in order to try and reach below the layers of Volcanic ash and Glacier till that cover the ground in the hope that we can get an understanding of where the fossil fuel is located. We have been concentrating our efforts on the Geo Science in the areas hardest hit by the beetle"  Bennett says.

In the near term however ,Bennett says we have to continue to explore for copper and gold, by opening up mines such as Mt Milligan. The Ministr adds, "There is also a lot of coal in the North Cariboo that could be explored before fossil fuels are discovered."

The NDP crippled the mining exploration at one time says Bennett but now, 15% of the Canadian exploration investment pie is flowing to BC which is a major turn around for the province.

Bennett was in Prince George to attend the Northern Economic Forum which was closed to the general public.

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