Did Danny Overshoot the Runway?...

I'm just here going through my numbers and some long dusty facts on oil.

I'm thinking tonight and it hurts...

Did we just bear witness to the shutdown,at least on a temporary basis,the burgeoning offshore oil industry in Newfoundland & Labrador?

Knowing that super royalties were to be paid in the eventuality that the oil industry were to walk into

Hebron-Ben Nevis and develop the field,was it that attractive for Danny to want to walk in and try to scoop the companies when the hard work was already done?

When was the last time you were given equal share in a company after it started to profit and expect to get in at a bargain basement price?...

A possible shutdown of the field until prices rebound is a possibility but the fact that the Newfoundland and Labrador government now has an equity position means that it would in fact,lose an awful lot of money should prices collapse...

And we'd have nothing to show for it...

The Newfoundland & Labrador government should just stay out and stick to putting it's royalty monies into the things we truly need-a vibrant economy that's crude oil and fishery based,and pay for the things we elect members to get for us.

The ground work was already set and we now have Hibernia,Terra Nova and White Rose.

Hebron Ben Nevis was a hard nut to crack with the possible construction of a $4 billion dollar gravity-based structure set to start soon until Danny wanted a part of something he played no role in.

And at $65 bucks a barrel we could have had $10 billion dollars in the bank...

The realities of crude prices falling is remote at best unless the world condition changes and until that happens we're likely to have been witness to the loss of more than the $10 billion conservative estimate of royalties.

Isn't that the total debt of the province as we know it?...

And,if we,as consumers,are to get our hands on a safe,secure guarenteed supply of crude oil into the North American market and become the hinge by which OPEC dependency is to be broken then perhaps Danny and the Tories along the east coast should keep their hands out of the cookie jar.

Make an investment into the reasons WHY oil companies should set up shop here and we'll be all the better for it...

The interest was here....at least,up until yesterdays news...