Federal Environment Minister Steven Guilbeault has approved a new oil project off the coast of Newfoundland and Labrador, which Ottawa says will be subjected to some of the strongest-ever environmental requirements. Guilbeault’s decision released on April 6 by the Impact Assessment Agency of Canada, says that the Equinor’s Bay du Nord project can proceed as long as it achieves net-zero greenhouse gas emissions by 2050. Until 2050, the Norwegian energy company is also legally required to consider and incorporate the “best available” options to reduce emissions. “I have determined that the designated project is not likely to cause significant adverse environmental effects,” said Guilbeault in his 22−page decision statement. The decision comes after the Impact Assessment Agency of Canada, a federal body accountable to Guilbeault’s ministry, concluded that the project would not have a significant impact on the environment, after four years of study, the minister added. The Bay du …