The news offshore is good - another significant oil find off the coast of Newfoundland and Labrador.
Hundreds of millions of barrels of light sweet crude - lots of the best.
Now let's look at our cut.
Statoil is owned 67% by the people of Norway. They will be the primary beneficiary of our oil.
Newfoundland and Labrador is still not able to refine any of our own oil. Therefore refineries in Eastern Canada will be the beneficiary of the secondary processing.
Our population is not increasing despite the massive oil, mineral, and energy wealth.
The news is good - yes. The news is great - hardly.
How about our local media do a breakdown of the benefits coming from another of our natural resources. This might tell us and Minister Joan Shea why we have a shrinking aging population despite all the fabulous natural resource headlines.
Ironic - that today we are worried about the potential loss of the Come by Chance refinery where we process oil that is far inferior to our own.
It is superb news for NOIA - it is another sad day for the people of our province.
Too bad our politicians do not have the vision of their colleagues in Norway.
Population Norway - 1970 - 3.8 million
Population Newfoundland and Labrador - 1970 - 514 thousand
Population Norway - 2012 - 5 million
Population Newfoundland and Labrador - 2012 - 526 thousand
Guess it really depends on what we do with natural resources. Norway and this province are good comparisons relative to energy wealth - both hydro and oil.
This is just another giveaway.
1 comment:
Why have the politicians we elected into power, when overseeing the development of our natural resources not see to it that our province got its rightful share of the profits from the resource development?
Why did they not see to it that all of the processing of our natural resources was done right here in Newfoundland and Labrador?
All of our natural resources that were developed since we became a province of Canada have been given away in the raw state in contracts for others outside of the province to benefit. I am sure though the politicians who over saw the development got their fair share while the average person of this province had to eke out a living whichever way they could. Most of the time they had to leave the province to find work, ironically working with their own resources that were shipped out in the raw state. That meant we not only lost our natural resource we lost our human resource as well.
As far as I am concerned we have been served politically by corrupt minded politicians who didn't care about those who elected them, all they cared about was their own personal business interests.
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