Robyn Terry

11:00am - 2:00pm
Email
Now Playing: Luke Combs - Love You Anyway
Listen Live

    Search

    Federal Ministers talk of a revised Atlantic Accord to include offshore wind energy

    Wednesday, 31 May 2023 07:00

    By Tonya Organ

    The global offshore market it’s expected to attract 1 trillion dollars in investment by 2040.

    This province will have the same control and profit from offshore wind energy as it does with oil revenue. Amendments to the Accord Act of 1985 were announced yesterday afternoon. Federal Natural Resources Minister Jonathan Wilksinson says we can choose to be a leader in a sustainable economy of the future becoming an energy and technology supplier of choice in a net zero emissions world. He says the global offshore market it’s expected to attract 1 trillion dollars in investment by 2040. He says wind projects are already taking off all around the world. Labour Minister and St.John’s MP Seamus O’Regan says the whole idea behind the Atlantic Accord was to share the development and the wealth of offshore oil resources. O’Regan says we are well on our way to embrace this natural progression. The Canadian Newfoundland Labrador Offshore Petroleum Board will now be known as, The Canada-Newfoundland and Labrador Offshore Energy Regulator.

    Share

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Heavy snow

      High: 1°C | Low: -12°C

    • Deer Lake

      Heavy snow

      High: -1°C | Low: -11°C

    • Stephenville

      Heavy snow

      High: -1°C | Low: -10°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Corner Brook Mayor Linda Chaisson on Bay Fm, Tuesday January 20, 2026

      The winter tourism season is off to a great start in the City of Corner Brook.

    • Sunday Night Geek

      Sunday Night Geek, January 18, 2026

      Sunday Night Geek, January 18, 2026

    • The Plain Truth

      The Plain Truth, January 14, 2026

      Host Paula Sheppard's guest this week is Destiny Hopkins from the Corner Brook Status of Woman Council. Destiny is Project Lead for a project that is looking at technology facilitated gender based violence and that includes on-line violence.