Quebec Pulls Trigger & Commits Energy Suicide – Bans All O&G Prod.

In the end, we didn't think they would actually do it--but they did. The province of Quebec, Canada, with a huge supply of Utica Shale gas sitting beneath it, has just passed a new law outlawing all oil and natural gas production throughout the province. It is a breathtaking grab of totalitarian power. It's also energy suicide. Quebec says it will pay a piddly $79.5 million (US) to expropriate the oil and gas drilling rights of companies owning those rights in the province. We've seen estimates that those rights are worth more than $5 billion. Questerre Energy, which owns more than 1 million acres of leases and an estimated 6 Tcf of Utica Shale reserves in the province, is considering its next legal move.

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