REPORT: Canada May End Up Giving Some Of Our Oil Profits To The United Nations

Because of agreement the Liberals signed with the United Nations in 2003, Canada could end paying 7% of the profits from the Bay du Nord project to the UN.

Once again, it looks like the Canadian government is letting our country get played.

A new project called Bay du Nord – worth $6.8 billion – has recently been set up by the Newfoundland and Labrador government, along with Equinor – a Norwegian oil company.

It’s a deepwater oil project, and it is 500 KM of the coast of St. Johns.

And, it has a dubious distinction:

It could lead to Canada being the first nation to ever pay profits from an offshore oil project to the United Nations.

According to a recent report, “Canada signed on to UNCLOS in 2003. Article 82 requires countries to make payments to a UN body called the International Seabed Authority for the exploitation of non-living resources (such as oil) on the continental shelf beyond the 200 mile limit.”

What a joke.

The Liberals signed us on to this UN agreement and now we may be the first country to ever give our profits to the UN?

Both the Newfoundland and Labrador government, and the Norwegian oil company have said the payments are the responsibility of the federal government.

The project is long-term, expected to begin pumping oil in 2025, with the payments to the UN reaching 7% a dozen years later.

And disturbingly, the Trudeau government has failed to make it clear that Canada won’t pay. It seems the Trudeau government is okay with giving the big cheques to the UN.

Canada must Ignore the UN

Many countries – including many democratic countries – simply ignore the UN when it’s convenient. And Canada should do the same. Hopefully, a Conservative government will be in power by the time this project gets ramped up, and they can make sure to reject any UN payments. The UN has no credibility, and no jurisdiction over Canada, and we shouldn’t be giving them a dime of our oil profits.

Of course, this is why we must be wary of the current Trudeau government. While the Chretien government clearly signed some bad deals, there was at least a baseline level of Patriotism and loyalty to Canada. Trudeau is far more willing to sell Canada out to the UN and global institutions, and who knows what else he’s giving away behind the scenes.

Spencer Fernando

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