1 April 2003
A tale of two coasts
THE COUNTRY'S east coast petroleum hopes seem to be sinking, while aspirations on the west coast are more buoyant than ever. Offshore Nova Scotia experienced one of its sharpest setbacks yet in February, when EnCana shelved plans for its C$1.2bn ($0.81bn) Deep Panuke gas project, adding disappointment to an already bleak year in the basin, when all five exploration wells were abandoned. At the same time, British Columbia's government set a 2010 target to bring its offshore oil and gas reserves into production. But the future of both coasts remains uncertain. There are still many believers in Nova Scotia, especially the deep-water Scotian Slope, where the gas potential has been rated as high
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