"Just get her done" because if we don't, the province is headed for bankruptcy........That was one of the messages delivered during a discussion on energy development at the Cities of New Brunswick meeting hosted by Saint John at Market Square. John Herron of the Atlantica Centre for Energy tells CHSJ News shale gas and the west to east pipeline are two possibilies that aren't a silver bullet but could move the needle foward.
He warns the provincial economy is facing some pretty strong headwinds with private investment stagnant, government spending being reduced, unemployment rising and young people leaving. Herron points out of all the province and American states, New Brunswick is the second oldest in North America and that is, in his words, "a perfect storm".
Herron says it hasn't even been determined yet if shale gas development can be commercially viable in the province.
The meeting was also told the province is working on a new structure for royalties from natural resources that would generate more revenue for the government. Only 1 per cent of government revenue in New Brunswick comes from royalties as opposed to 21 per cent in Saskatchewan.
