Dave Furlong, Managing Director of the Canadian Petroleum Association said today, "that he was surprised and gravely concerned by the decision announced today by the National Energy Board that there is no surplus of natural gas and that the Board had dismissed all the export applications totaling 2.7 trillion cubic feet which had been applied for in July of this year."
"We are satisfied that there is more than sufficient gas presently surplus to Canada's requirements to cover these applications. In fact, in July we submitted to the Board our formal opinion that there was 7.6 trillion cubic feet as surplus after taking care of reasonable future Canadian requirements. We have not yet had an opportunity to study the Board's decision in detail, but we are flabbergasted that the Board has come to this decision."
"This will undoubtedly have an adverse affect on the petroleum industry in Western Canada which is already plagued by reduced drilling and exploration activity."