Premiers To Meet On Offshore Revenues

Nova Scotia Premier John Hamm and Newfoundland and Labrador Premier Danny Williams will meet today, Nov. 8, to discuss ways to ensure the federal government fulfills offshore commitments that Prime Minister Paul Martin made during this year's federal election.

"The federal government has all the information it needs to do the right thing and deliver on the commitment made by four prime ministers of Canada, including Mr. Martin, that Nova Scotians, Newfoundlanders and Labradorians would be the principal beneficiaries of our offshore," said Premier Hamm, who has championed the cause of offshore revenues since 2001. "Both provinces must speak with one voice, that we will not accept less than what we are guaranteed by federal-provincial law and by the word of Prime Minister Martin."

Monday's meeting in St. John's, NL, marks the first time the two premiers have met privately on offshore issues since October's First Ministers' Meeting. They have frequently engaged in telephone discussions on the subject over the last two weeks.

"The prime minister was very clear to both provinces in June of this year that the people of Newfoundland and Labrador and Nova Scotia would receive 100 per cent of offshore oil and gas revenues, no caps, no fixed time frames and no caveats," said Premier Williams. "This is about the federal government keeping its word to allow two provinces to use the benefits of their offshore resources to become strong, financially self-reliant partners in Confederation. We will not say yes to less."

In the mid-1980s, the federal government passed legislation under the Atlantic Accord and the Canada-Nova Scotia Offshore Accord to guarantee full revenue benefits for both Nova Scotia and Newfoundland and Labrador. The current federal offer falls far short of 100 per cent offshore oil and gas revenues.