Interesting, when you consider the history of Canadian Arctic offshore oil and gas exploration!

The only extensive Canadian Arctic offshore drilling occurred under the Liberal government of Pierre Elliott Trudeau in the 1970's and 1980's. His government established exploration tax provisions and the Petroleum Incentives Program, allowing grants of up to 80% of total costs! This created an exploration rush in the Canadian Beaufort Sea, resulting in more than 170 wells drilled. Companies like Panarctic Oils, Dome Petroleum and Petro Canada experienced huge exploratory budget expansions. However, most of what they discovered was natural gas, not oil. It was deemed too expensive to construct pipeline transportation networks to southern markets and after the tax incentives were decreased and eliminated in the 1980's, the whole program collapsed.

Prime Minister Justin Trudeau seems to be doing just the opposite of what his father encouraged !