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Another Record Breaking Sale of Oil and Gas Rights

By 250 News

Thursday, July 17, 2008 11:44 AM

Victoria, B.C. - The July sale of oil and gas rights resulted in a record-breaking total of over $610 million in bonus bids.

Yesterday’s sale brings the fiscal year-to-date total to a new record of over $1.3billion.

Energy, Mines and Petroleum Resources Minister Richard Neufeld says the sale  demonstrates B.C.'s position as a premiere jursdiction  for  oil and gas investment “I am certain that these record-breaking results will continue to attract new interest in the coming months.”

The July sale offered 149 parcels in northeast B.C. covering 134,196 hectares, and sold 146 parcels covering 132,740 hectares. The average price per hectare was $4,596.

Key parcels in the sale included five drilling licences located 45 km west of Dawson Creek with bids of over $32,500 per hectare for a total of $482.6 million. These parcels include rights to the Montney formation. Three lease bids of nearly $25,000 per hectare for a total of $19.4 million were awarded in the Sunset Prairie area, approximately 25 km south of Fort St. John.
 
The next sale is scheduled for Aug. 13, 2008 and will offer 136 parcels covering 115,879 hectares.
 

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Comments

I thought Campbell wanted to DECREASE greenhouse gas emissions.

Isn't that why we have the carbon tax (grab)?

Michael Smyth of the Province said it perfectly:

"So let me get this straight: Campbell hammers you with gas taxes, because fossil fuels are destroying the planet. But he gives hundreds of millions of dollars to the companies that produce the fossil fuels in the first place -- an industry that generates 21-per-cent of all the greenhouse gases in the province."

I encourage people to read the full column, "Campbell's image makeover pure hypocrisy":

http://tinyurl.com/5at2x4
Uh-huh, and I suppose you drive to work in an electric car to the windmill farm, bohemian.

Nice to have a job, isn't it! After the windmills are up and running, check with forestry for furthur emolyment --- because nobody'd ever catch YOU earning your living from oil and gas would they, and DAMN those Albertans already living high off the proceeds of such a filthy enterprise.

Ohh, I forgot --- you'd need one of those smoke spewing, fuel guzzling pickups to compete in that industry !!

palomino
Isn't this a conflict of interest? He wants us to consume less gasoline but sells us out to the oil companies. Good riddance Campbell.
But it's not about oil... it about natural gas.

Anybody here have a hot shower, dishwasher, or washing machine?

Or for that matter heat their homes in the winter?

It'a all about cleaner burning natural gas.

And the $6 billion invested up here in the northeast every year, and the $billions$ the government receives every year in royalties and crown land grants, etc.

Don't kill the goose that laid the golden egg.
Good article bohemian!
And it pretty much tells us what and who we are dealing with.
Be afraid!
Norway has the highest gasoline prices in Europe. Norway also has the highest income from North Sea oil and is a petro currency country.

the facts:

1. we cannot get off oil or gas immediately ... it will take until the resource is virtually depleted or we perfect another energy resource or two and oil and gas will become garbage.

2. natural gas is the cleanest burning of the fissil fuels we use.

3. oil in its natural form rather than oil sands or shale produces a fraction of the carbon dioxide that the tar sands do, for instance ....

4. in my opinion, and that of some members of the science community, burning biofules is not exactly carbon neutral and most certainly creates havoc with the use of agricultural land for fuel rathere than food.

So go to it and explore as much as possible for the relatively easy stuff....

Again ..... too many people are into this black and white stuff ...if only the world and running a country/province/city were that easy ......
You can go here to read Michael Smyth's reaction to Pat Bell's statement about the give away to Western Forest Products of forest land.

http://www.canada.com/theprovince/news/story.html?id=b88b497b-6085-4177-ab1f-c84dd138733d

And you can read more about Coleman in this article.

http://www.canada.com/theprovince/news/story.html?id=911ee069-a572-49d6-97ba-fee3a1413ae6

It's amazing that The Province is writing articles critical of the Campbell gov't.
I kinda like my hot water. A spot of bother without it. We all need that shower in the morning to keep being socially acceptable.
I'm just saying the gas tax is stupid, and as shown by the Liberals' policy toward oil and gas exploration, hypocritical.

Smyth makes the perfect point - it's politics. It's about getting elected.

The facts don't count. Your vote does.
For all you people that still believe CO2 is evel the tide is turning on so called man caused global warming. Check out the latest icecap.us. Before making any snide remarks, read the information and see where the information is comming from. Thousands of scientists are rethinking this global warming scam. It seems that the earth is entering a cooling phase, think of what that will do to your heating costs. Big houses will be as popular as SUV's right now.
And just how are we as taxpayers gaining from this? Nothing! Just pay more tax!
Remember the "iceage" that was coming in the 70's? Hmmmmm all sounds familiar.
seamutt .....

I am one who does not think that CO2 is the issue. The issue to me is that the sequestered energy in the form of oil, gas and coal are finite resources. To me, the fact that they give off CO2 in an energy extraction mode is not important.

It was not important when the Europeans upped the tax on gasoline during the last oil crisis. They did it due to pending shortages so that conservation would be promoted along with development of alternate fuels.

So tell me all about the fallacy of a pending oil shortage. Tell me that it is not a finite energy source, but that the scientists have it all wron and they can create new oil over a 30 hour manufacturing process rather than a multi million year natural process.
Owl I was not talking about oil as such, I was reacting to the posts referring to so called green house gases. Yes we have an finite supply of gas and oil but like it or not we are stuck with it as a source of energy for at least another 30 to forty years until other sources of energy can be developed.
The money being spent on chasing CO2 which is in the billions is only making people like Gore very rich. Lots of universities and scientists are also making money with the CO2 scam and will not let up easily. This is money being missappropiated that could be spent on appropiate enviromental concerns and research on alternate energy.

Yes we have to stop using oil and gas for energy as it is far to important to be used in that way.
I wonder if anyone heard that are huge wind driven generators passing through PG today on their way to Chetwynd to a wind farm of 48 generators to be put up ....

They're destined for the Dokie Ridge about 40 kilometres north of Chetwynd where Earthfirst Canada Inc. is in the process of building a wind farm.

The project, adjacent to power transmission lines from the WAC Bennett dam, will cost $360 million once completed.

http://www.earthfirstcanada.com/about-us

http://www.earthfirstcanada.com/news/20071217/earthfirst-orders-48-vestas-v90-3-0-mw-wind-turbines-dokie-ridge-project-british-colum

This is the company that supplies the turbines - Danish.

http://www.vestas.com

Once again we are buying technology and manufactured items from other countries ... when will be be creating incentives for setting up such design, manufacturing, maintenance companies here???

If these things can be shipped here from there, and they ship all over the world, why would we not be able to do the reverse?

Then there is this interesting one .... Guess I have not been up that way for a few years ... wonder how that one is doing ..
http://www.cleanairkit.ca/download/chetwynd_windmill_project.pdf
BTW, that is the type of incentives I was hoping our CO2 taxes or whatever you want to call them would go to. In fact, that is where a significant amount of the excess dollars from the gas/oil licenses and royalties should go to.

And, one more step. The money should go, wherever that is reasonable, to diversify industrial location of "clean" industry, away from the lower mainland to the interior of the province, including the north central interior where the cost of housing is considerably less.

Has anyone heard such a connection from the government?
The connection with manufacturing .... developing and researching products for developing ....

known as the knowledge industry .....

http://www.vestas.com/en/jobs/education-and-research/global-university-programme

invest in education

invest in product development

invest in existing communities that can no longer rely on resource extraction alone .....
Owl they're building a plant in Oshawa Ontario I think for the wind turbines.