ExxonMobil, Murphy to sue Canada over oil rule

[CHIMO]

Source: THE CANADIAN PRESS

CORNER BROOK, N.L. – U.S. oil giants ExxonMobil and Murphy Oil are accusing Ottawa of breaching the North American Free Trade Agreement by allowing Newfoundland to require them to spend millions of dollars on research in the province.

The two companies plan to sue the federal government, alleging it violated a previous NAFTA agreement when a provincial-federal agency adopted a new guideline on research and development in November 2004.

In notices of intent filed last month, ExxonMobil and Murphy Oil say the new regulation would cost them $40 million and $10 million, respectively, regardless of the commercial need for such investment or of the resources in place to sustain it.

The companies call the guideline "restrictive" as it specifies a fixed amount of money to be invested, and cite the Newfoundland and Labrador government's push for more revenues from the offshore oil industry.


Read more: http://www.thestar.com/Business/article/261193

---

Maybe some politican should come up with a new idea.

Kill NAFTA.

Oh well. One can dream.

[sarcasmo]

1. Kucinich has that idea.

[Deja Q]

2. Despite NAFTA, we can't get Canadian drugs because they may be dangerous.

Meanwhile, drugs such as methohexate are being recalled because the country of their origin screwed up in manufacturing them. Oh dear, that country happens to be China.

:crazy:

[KAZ]

3. Kill Exxon. n/t

[fasttense]

4. This is the reason for those awful treaties.

So corporations with huge profits can file law suits to make even more money off of the middle class. ExxonMobil and Murphy Oil killing off the middle class, one country at a time.