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Government must release more detailed information related to Hebron talks August 22, 2007 Opposition Leader Gerry Reid says he is pleased that government has once again returned to the table with the Hebron partners, but is calling on the premier to make more details of the negotiations public. "I am pleased government and the Hebron partners have returned to the negotiating table," said Mr. Reid. "I am disappointed that it took 18 months to reach this point while thousands of Newfoundlanders and Labradorians have left the province in search of work. While today’s announcement is not an agreement and negotiations could once again go off the rails, it is encouraging that at least all parties are once again talking. "The Memorandum of Understanding (MOU) released earlier today is not a deal and only outlines the parameters of a negotiation. The premier has not released the actual document and has indicated that he has no intention of doing so. Even though the premier has stated that every development project should be released and debated in its entirety in the House of Assembly, he has once again flip-flopped and released selective information that is nowhere near outlining the main details of this negotiation. I also question why the oil companies were not present at today’s announcement. If we were so close to an agreement and the main points were finalized, I would have expected company representatives to have participated. Why weren’t they there? "Another factor that must be questioned is why an equity share is any better than an improved royalty regime. I am not aware of any information or economic analyses that backs up the premier’s position that we are better off under an equity position. Instead, the people of this province will put approximately $350 million forward in up-front costs to buy this equity stake and contribute to development costs. By taking this equity position, we don’t know what the potential and unknown liabilities the premier is exposing the taxpayers of this province to should problems arise in the future. To achieve this equity stake, we have sacrificed royalties that could have been even more lucrative and guaranteed to the province without risk. "If the parameters of this MOU are finalized at the negotiating table, it will be at least 18 months to three years before any construction activity takes place. We need much more information and I am hoping that before any deal is finalized, the people of the province will have the opportunity to review the full details of any agreement that may be reached."
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