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Oil exploration off Nova Scotia carries potential benefits, dangers for Maine

from Portland Press Herald

Two major oil companies are exploring potential drilling sites in waters off Nova Scotia, in an undertaking that ultimately could generate opportunities for Maine businesses but pose a threat to the state's fisheries. Nova Scotia's government has granted Canadian subsidiaries of Shell Oil Co. and BP Plc. rights to explore thousands of square miles of ocean floor in search of commercially viable oil deposits. Each company has committed to about $1 billion Canadian in surveying costs over the next several years. more

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