Nova Scotia to End Ban on Uranium Exploration and Fracking Amid US Tariff Threats

February 20, 2025 TruthUSA

The Nova Scotia government has introduced legislation to allow for the exploration of uranium and potential natural gas production, stating that resource development can enhance the province’s self-reliance, particularly in light of U.S. tariff threats.

N.S. Natural Resources Minister Tory Rushton has presented Bill 6 to revoke the province’s ban on uranium exploration and revise a law that prohibits hydraulic fracturing for natural gas. The “Act Respecting Agriculture, Energy and Natural Resources” was put forth on Feb. 18 alongside the unveiling of the province’s 2025-26 budget.

According to Rushton, “The global demand for critical minerals and other natural resources in the transition to net zero by 2050 necessitates Nova Scotia to become a secure, responsible, and ethical provider of these materials. We must eliminate barriers to explore all available options.”

“We can generate employment opportunities, fortify our economy against potential threats from Trump, and participate in the worldwide battle against climate change.”

On Feb. 3, U.S. President Donald Trump agreed to a 30-day halt in his plan to impose 25% tariffs on Canada, opting for a reduced levy of 10% on Canadian oil. The decision followed a pledge from the Canadian government to bolster border security to combat the inflow of fentanyl into the U.S.

However, subsequent announcements from the president have revealed impending tariffs on all steel and aluminum imports, slated to take effect in the coming month, with hints of further tariffs as his administration reviews trade agreements with other nations by April.

The new provincial budget has factored in potential tariffs by introducing significant tax reductions, establishing a reserve fund in anticipation of Trump’s tariff enforcement, and investing in the growth of Nova Scotia’s economy through diversified markets and resource development.

Prior to the respite in U.S. tariffs, Nova Scotia Premier Tim Houston had readied countermeasures, including restricted access to provincial procurement for American firms and the removal of U.S. alcoholic products from stores. The province refrained from implementing these actions due to the tariff pause, but Houston stated that the province remains prepared to respond.

Finance Minister John Lohr highlighted in his budget speech on Feb. 18 that the province’s retaliation against tariffs will not solely be retaliatory but will also aim at fortifying the province’s resilience and independence.

Lohr emphasized the necessity for the province to foster its economy by eliminating barriers to investment and economic expansion in the form of “outright bans.”

He posited that such bans are “simplistic policies” that hinder crucial discussions on uranium and natural gas, preventing the prospect of “significant but challenging dialogues.” Lohr advocated for lifting bans and avoiding future outright prohibitions.

For over 15 years, uranium exploration has been forbidden in the province under the Uranium Exploration and Mining Prohibition Act, which the newly proposed Bill 6 endeavors to abolish. It also revises the Petroleum Resources Act, legislation amended in 2014 to forbid high-volume hydraulic fracturing or fracking.

The new bill entails additional amendments related to the agriculture sector and the province’s Public Utilities Act.

The province clarified that repealing the uranium exploration ban only allows for governmental research to enhance comprehension of potential development opportunities, with all industry activities concerning uranium remaining prohibited.

The exploration of uranium falls under provincial jurisdiction, while its mining and processing are regulated by the federal government under the Canadian Nuclear Safety Commission.

Regarding the potential natural gas production, the province indicated that any hydraulic fracturing operations would be subject to stringent regulations to mitigate environmental risks, emphasizing that such activities would only commence post thorough discussions on safe practices.

Source link