Offshore oil worth $9.6B to B.C. says Fraser Institute

Benefits of drilling Hecate Strait reserves outweigh risks says report

A high-profile conservative think tank says B.C. could make billions of dollars if the ban on oil exploration off the province’s coast was lifted.

The Fraser institute issued a report Monday, calling for a suspension of the 40-year-old federal moratorium on West Coast offshore drilling.

The report says that big rigs like those off Newfoundland and Labrador could bring in $9.6 billion for B.C. over the next 25 years.

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