Premier Dwight Ball told the province’s oil and gas industry that by the end of the summer, he will make good on an election promise to develop an Oil and Gas Industry Council.
Ball was speaking at the opening of the Noia industry conference in St. John’s, and he acknowledged that things have been tough recently.
Ball said every morning when he wakes up, he checks the price of oil; in the wake of the crash in commodity prices in the past couple years, crude has been trading around $50 per barrel recently.
The industry council is supposed to provide a clearer channel of communication from the industry to the provincial government, and Ball said it could help provide input on changing regulations, or shaping government policies when it comes to the oil and gas sector.
There will be some sort of cost to the taxpayers for this new council, but Ball wouldn't say how much money will be spent on it.
Ball said that now is the time to build a foundation for the industry, so it can succeed in the future.