Economist Wade Locke has completed a report on the economic impact of the Hebron project – and he has determined that it is crucial to the long-term fiscal health of the province. He has concluded that the project is expected to bring in $20 billion in royalties and taxes over its lifespan and is expected to account for 55.6 per cent of total offshore production during the period of 2016-2037. Variables like the price of oil and the value of the Canadian dollar could deflate expectations to $11 billion or balloon them to $34 billion depending on the worst and best case scenarios. Read the full story and more from Locke’s report at the Daily Business Buzz.
