Bud's Offshore Energy (BOE)

The Canadian Senate has decided that the facts do not justify banning Canada’s offshore drilling operations.  The full report is linked.

The Senate also showed support for the International Regulators’ Forum.  Canada will be hosting a major international conference in Vancouver in October.

The committee heard sufficient evidence to make it comfortable with Canada’s (federal and provincial) approach to striking this risk/reward balance andwith its new judgment-based and goal-oriented regulatory approach. Canada is a leading participantin the International Regulators Forum, a group of offshore industry regulators from the most activeoffshore drilling nations, including Norway, the United Kingdom, the United States, Australia, NewZealand, the Netherlands and Brazil. Interestingly, none of these nations have called for or imposedbans on current offshore drilling operations within their jurisdictions following the BP incident.