The Atlantica Centre for Energy says governments, industry and the people who live in the province will have to reach a social contract to advance the economy.
Atlantica President John Herron maintains developing our natural resources is the answer to the province's economic problems but the controversy over shale gas development is not helping. That's why he argues rigorous regulations are required that are not onerous but ease public skepticism that the bottom line is the only thing that counts.
Herron says the three goals of this social contract would be economic progress, social development and ecological integrity.
Herron warns the provincial tax base can't support our basic health, education and social programmes without federal transfers so new sources of economic activity will have to be found and natural resoources are it.