Tuesday, August 25, 2020

Yes, Canada DOES Have Resource Sectors

But why would the Liberal government use them to rebuild Canada when they can be ignored, disparaged or sold off the Chinese?:

If properly supported, Canada’s resource sector and Canadian agriculture will be leaders in the recovery. Our world-class resources, producers and the tech economy that entrepreneurs have built on their foundations are creditable reasons for optimism.

A good example of that kind opportunity comes from Canada’s mining sector and more specifically uranium. I admit to two conflicts for this brief discussion. One is my directorship with NexGen Energy, which is currently developing what will be the world’s largest uranium mine near La Loche, Sask. The second being that I live in Saskatchewan, the province home to virtually all of Canada’s uranium supply.

COVID-19 exposed the vulnerabilities of the world’s uranium supply. The spot price responded with a run, rising over 40 per cent. This is good for Canada’s uranium producers. Previously shutdown mines have new hope and the viability of thousands of good Canadian mining jobs, many held by Indigenous Canadians, has been greatly enhanced. So is the prospect for new mining jobs in the sector.

But it ought not to end with mining. Federal and provincial governments can support the value added and tech opportunities that can be built on the primary part of the uranium industry. Credit here to the leadership of Saskatchewan Premier Scott Moe who has spearheaded a national push for Canada to lead in the development of small modular nuclear reactor technology. His efforts have been joined by Ontario Premier Doug Ford, New Brunswick Premier Blaine Higgs and recently Alberta Premier Jason Kenney.

Nuclear reactors remain a source of reliable base-load power (hello California) that is emissions-free. What could be greener, more equitable or more inclusive?

Something similar could be said for Canadian oil and gas. After all, Canada is still home to the  third-largest reserves on earth. We have a world-leading record in terms of responsibly developing the resource. As the world reopens, it will continue to buy oil. A federal government that sought to ensure its oil-and-gas sector was a priority would, by definition, be taking an equitable, inclusive and globally sustainable approach to the restart. It certainly wouldn’t wish the sector didn’t exist at all. This has been the sentiment betrayed by any number of utterances and Freudian slips from Camp Trudeau.

 


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