In early November 2010, the Atlantic Provinces Economic Council (APEC) held its 16th annual Business Outlook conference. In this report, we feature the event's keynote and industry leaders who outlined the key opportunities and drivers shaping Atlantic Canada's energy future. The report also includes a summary of the address by APEC President Elizabeth Beale on whether a new era of regional energy cooperation is dawning in Atlantic Canada.
Skilled trades people are a critical part of the labour force requirement for the offshore oil and gas industry, particularly during the development or construction phase of a project. This report presents estimates of the number of unionized construction workers in Nova Scotia in selected trades of relevance for the offshore, along with a detailed profile of their skills, credentials and experience.
One of the most pressing issues for the forest industry in Canada is the dwindling supply of labour, and in particular the lack of skilled workers. Until recently, a labour surplus ensured an adequate supply of new workers for resource based firms across Nova Scotia. However, a decline in the birth rate, competition from other industries, and out-migration to western Canada have all served to reduce the pool of available workers. The productivity and profitability of firms in the forest industry depends on the skills and capabilities of its workforce.
The forest labour force in New Brunswick has changed significantly over the last decade. Employment grew strongly in the late 1990’s led by growth in the wood products sector, but growth has stalled in recent years. The unemployment rate has declined but remains high. The potential local supply of labour for the forest industry is dwindling due to demographic factors such as slow population growth, an aging population and migration of young people to the cities.
A positive transformation of Newfoundland and Labrador’s economy is now well underway, largely due to offshore oil development. In its latest Atlantic Report, the Atlantic Provinces Economic Council examines the impact of the oil and mining sector on the province and discusses the outlook for Newfoundland and Labrador's economy in the coming years.
The mining industry in Atlantic Canada is experiencing a revival after several years of stagnant output and declining employment. Strong demand and high commodity prices have led companies to redevelop mothballed projects, expand existing operations such as the potash mine in New Brunswick, and proceed with the development of newly found resources such as the Voisey’s Bay and Duck Pond mines in Newfoundland and Labrador. As a result, the value of metallic minerals produced in the Atlantic region has almost quadrupled since 2003 to reach $4.6 billion in 2006.
Atlantic Canada made sizeable gains in exports over the past decade due to higher exports of energy and mining products, but its non-mineral exports dropped by 20% between 2000 and 2010. Although all four Atlantic provinces experienced an increase in non-mineral exports to non-US markets between 2000 and 2010, only in Prince Edward Island was this sufficient to outweigh the loss of export revenues in the principal US market.
The energy sector has grown to become the most important group of industries in Atlantic Canada with a full spectrum of activity across the region, ranging from offshore oil and natural gas to wind farms to nuclear power. In its latest edition of Atlantic Report, the Atlantic Provinces Economic Council (APEC) examines the tremendous contributions energy developments are making to the economy of Atlantic Canada, and the challenges facing the future development of the industry.
This report examines recent developments in Atlantic Canadian mining and energy sectors, the economic potential of these reserves, and projections regarding market development.
This report documents the recent and projected growth in Atlantic Canada’s energy portfolio, discusses the two most prominent drivers of these energy developments – growing demand for energy in U.S. Northeast and environmental pressures for cleaner energy – and highlights the risks involved in making these long-term energy investments. The article concludes by pointing to the potential for more of a regional approach to help ensure a clean energy future for the Atlantic provinces.
