If the moratorium on shale gas development is not lifted in six months time, jobs and investments will be lost.
That warning comes from the Canadian Manufacturers and Exporters Association.
Regional Vice-President Joel Richardson says he can understand the Liberals made a big deal of campaigning for a moratorium but the future economic prospects aren’t looking all that great at the moment – with young people leaving the province in droves.
“We cannot afford to lose any more employment in New Brunswick. There’s 40,000 people on unemployment,” says Richardson. “There’s 20,000 people a year leaving New Brunswick going to Alberta for work. We are seeing a lot of our youth leave our province and that is a massive issue for New Brunswick.”
Richardson says in 1974, the average age in New Brunswick was 25 and it’s now 44 – which he says is a bad sign for the future.
The Gallant Government issued a moratorium earlier this month with a list of restrictions before it can be lifted.
Those include:
- A “social licence” be established through consultations to lift the moratorium;
- Clear and credible information on the impacts on air, health and water so a regulatory regime can be developed;
- A plan to mitigate impacts on public infrastructure and address issues such as waste water disposal is established;
- A process is in place to fulfill the province’s obligation to consult with First Nations;
- A “proper royalty structure” is established to ensure benefits are maximized for New Brunswickers.
Richardson says a long term moratorium will be disastrous for future job prospects province wide.
“If the moratorium is not lifted in the short term, then companies such as PotashCorp who benefit from a clean supply of natural gas from Corridor Resources in Sussex stand to lose employment,” says Richardson.
The Fredericton Chamber of Commerce is also speaking out about the economic potential of shale gas and worries the social license restriction is too vague and will prove a stumbling block in the future.