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Anticosti oil exploration: A clear signal in favour of natural resource exploitation

Montréal, February 13, 2014 – The Board of Trade of Metropolitan Montreal is pleased with the Government of Quebec’s decision to move ahead with the exploration and possible exploitation of oil reserves on Anticosti Island.

“Quebec has always recognized the importance of developing its territory and exploiting natural resources,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The discovery of hydrocarbon development potential is important news that opens the door to extraordinary collective wealth. Today’s announcement sends a clear message: if the resource is present in sufficient quantities, we will exploit it. The Government of Quebec’s announcement is to be applauded.”

“Our brief to the Commission sur les enjeux énergétiques du Québec emphasized the need to be pragmatic in developing our energy strategy,” Michel Leblanc said. “Quebec will need oil for many years to come. Our foreign oil imports cost around $14 billion per year, which has a big impact on our balance of trade.”

“Today’s announcement, combined with the government’s support for the reversal of the Enbridge pipeline, will help increase the competitiveness of Quebec’s petrochemical industry, particularly in the east end of Montréal,” Michel Leblanc said. “This is a reassuring message for investors which will have a positive impact on our economic base.”

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.


Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042

Twitter: @chambremontreal
Follow the discussion: #ccmmqcca

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