Since 2001, Hydro-Quebec had been conducting oil exploration on Anticosti Island. Seven years later, they had found nothing. In 2008, Petrolia, a private oil producer, signs an agreement with Hydro-Quebec to continue oil exploration and the money Quebec will receive if it finds oil. Petrolia discovered oil for $75 billion and Quebec will receive a small sum of $2.3 billion. Petrolia has the right to extract oil everywhere on the island except in the two national parks. Should we take the risk of breaking a fragile and unique ecosystem to make short-term money? To answer this ethical question, we will examine the positive and negative effects of oil extraction from different regions that have decided to engage in the oil industry. These regions are closely related to our case and we will conclude with the possible solutions offered to Anticosti. First, we will look at the positive effects of oil extraction on Anticosti Island. This discovery will have a positive impact on the economy of the province of Quebec. In many cases, we can clearly see that the economy becomes rich after oil extraction. For example: “In 1997, the Canadian oil industry supplied approximately $15 billion worth of crude oil, natural gas, natural gas liquids and refined petroleum products to meet our national energy and petrochemical needs. Without industry, we would have had to spend at least as much on imported supplies. Additionally, in 1997 we received $25 billion in revenue from oil exports. This $40 billion boost to the economy turned a potential $16 billion trade deficit into a $24 billion trade surplus” (Bott, 1999, p. 89). Is there another example of a wealthy economy during oil exploration... middle of paper... disaster? Recovered on Financial Post: http://business.financialpost.com/2013/09/23/northern-promise-anticosti-untapped-treasure-or-natural-disaster/Robillard, A. (2013, November 26). Details of the agreement for oil exploration on the island of Anticosti have been released. Recovered on Financial Post: http://business.financialpost.com/2013/09/06/details-released-for-oil-exploration-deal-on-anticosti-island/?__lsa=1158-1d11S.Uhler, R. (1986). The potential supply of crude oil and natural gas reserves in the Alberta Basin. Ottawa: Canadian Government Publishing Center Supply and Services Canada. Scarlett, M. (1977). Consequences of offshore oil and gas in Norway, Scotland and Newfoundland. St. John's: Memorial University of Newfoundland.Unknown. (2013, November 25). Anticosti Island, Quebec. Retrieved from Corridor Resouces Inc.: http://www.corridor.ca/oil-gas-exploration/anticosti-island.html