Miramichi Leader 11 AUG 14 ...the Irving viewpoint...surprise! ..surprise! The New Brunswick government’s strategy to bolster its economy through further developing the province’s natural resources received a ringing endorsement from the Harper government in Miramichi last week. Federal Finance Minister Joe Oliver, a former natural resources minister, said Canada’s environmental track record on natural gas extraction is effectively unblemished and, if done responsibly, would mean significant growth and opportunity for the provincial economy. This would indeed be a significant leap forward on the fiscal front, if it all does eventually come to pass. As recently reported by Legislature Bureau reporter Shawn Berry,in a story published in the Miramichi Leader, the province’s debt is projected to hit a whopping $12.2 billion by the end of the current fiscal year. “The current cost of servicing the province’s public debt – the equivalent of paying off the interest but not the principal on a loan – will cost $685 million this year,”he wrote. That’s a lot of money not going to hospitals and roads and schools. For example, Miramichi was very fortunate to be one of two New Brunswick communities pegged in this year’s budget to get a new school in the Newcastle end of the city, but we still need another in Chatham. Regardless of whatever party is in power – it’s still the same debt picture because it’s still the same province – money for that next new school is going to be hard to come by. It’s a long waiting list, and without sufficient revenue growth in the province, money for that kind of infrastructure continues to be a precious commodity indeed. And of course shale gas development is also about creating jobs. If shale gas development becomes a reality down the road – that is, should there be enough reserves to warrant extraction and providing it can be done with strict regulations to protect the environment – it will be music to the ears of places like Blackville, where signs that read “Say yes to shale gas”can be seen. As we all know here in the northeast, a fly-in, fly-out economy is unsustainable in the long term. We’re bleeding young, skilled workers and if the province was to move ahead with the responsible development of a shale gas industry, it would almost certainly mean good-paying jobs much closer to Miramchi. It would also be a boon for local businesses who would stand to benefit from a massive supply chain. For his part, Minister Oliver believes fears about the potential environmental impact of the industry, particularly when it comes to the controversial extraction process commonly known as fracking, are unfounded. “With respect to the whole issue of shale gas and fracking,that’s been going on for over 50 years in British Columbia, Alberta and Saskatchewan,” he said.“There have been 175,000 wells drilled and there isn’t a single case of drinkable water contamination, so that’s a pretty bloody impressive record – we’re mindful of the fact that as this debate goes on, it’s critically important that it be done in a safe way.” As reported by Kris McDavid in today’s Miramichi Leader, Mr. Oliver said residents of those western provinces have accepted the widespread development taking place all around them. The reason for that, he said, is because it’s being done in a responsible manner, and noted there’s no reason to believe the case will be any different in New Brunswick. We tend to agree.While Miramichi is prospering far moreso than fellow northern communities like Bathurst and Campbellton,we can do much better, in terms of having our tradesmen get work closer to home and finding new opportunities for companies like Sunny Corner Enterprises, to give just one example. New Brunswick needs to embrace new opportunities where they present themselves on the natural resource front, for the benefit of Miramichi and the province as a whole.
Posted on: Tue, 12 Aug 2014 00:55:14 +0000
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