Energy East pipeline vital to New Brunswick economy: economists

FREDERICTON -- The growing national divide over the Energy East pipeline couldn't come at a worse time for New Brunswick, which is already beset by a series of economic blows and needs a major project to create much needed jobs and revenue to turn around a flagging economy.

See Full Article

University of New Brunswick economist David Murrell says the outlook for the economy looks bad with the closure of the PotashCorp mine near Sussex and now Quebec opposition to the proposed Energy East pipeline.

Marie-Christine Bernard of the Conference Board of Canada says New Brunswick is banking on the project.

She says with large deficits, an aging population, and young people leaving the province for work, New Brunswick needs a sizable project or there will be little growth in the economy.

New Brunswick Energy Minister Donald Arseneault says he's concerned the pipeline project could be further delayed but believes the project can go ahead in a sustainable way.

The New Brunswick government delivers its state-of-the-province address this week and a provincial budget next week.



Advertisements

Latest Economic News

  • Air Miles raises cap on in-store redemptions

    Economic Toronto Sun
    TORONTO — Air Miles is raising some of the recent daily limits imposed on redeeming miles for in-store purchases from retailers. The customer loyalty program says the new daily limit on Air Miles Cash redemptions, in most cases, has been raised to $100. Source
  • Disgruntled U.S. Tim Hortons franchisees follow Canadian example, form alliance

    Economic CTV News
    TORONTO - A group representing Tim Hortons franchisees who are unhappy with the management of the coffee-and-doughnut chain says it now has a U.S. chapter, a development that could put further pressure on the parent company. Source
  • Canada, China sign no-hacking agreement designed to protect trade secrets

    Economic CTV News
    OTTAWA -- Canada and China have agreed not to engage in state-sponsored hacking of each other's trade secrets and business information. The two countries reached the agreement during a meeting last week that was part of their new high-level national security dialogue. Source
  • Coal on the rise in China, U.S., India after major 2016 drop

    Economic CTV News
    BEIJING -- The world's biggest coal users -- China, the United States and India -- have boosted coal mining in 2017, in an abrupt departure from last year's record global decline for the heavily polluting fuel and a setback to efforts to rein in climate change emissions. Source
  • Ontario needs innovative skills and apprenticeship training:study

    Economic CTV News
    TORONTO - A new study concludes that Ontario needs to get far more creative in order to properly prepare young people for jobs of the future. The study was commissioned by the Ontario Skilled Trades Alliance which represents companies that employ more than 400,000 skilled trades people across the province. Source
  • Air Miles raises cap on in-store redemptions effective Monday

    Economic CTV News
    TORONTO - Air Miles is raising some of the recent daily limits imposed on redeeming points for in-store purchases from retailers. The customer loyalty program sent notices during the weekend that says the new daily limit on Air Miles Cash redemptions, in most cases, has been raised to $100. Source
  • Portugal airline chief fears increasing drone near-misses

    Economic CTV News
    LISBON, Portugal -- Portugal's national airline chief said Monday he is considering asking authorities to order that all drones in the country be grounded, following a series of near-misses with commercial aircraft. If drones "keep entering airspace, we're going to call for them to be grounded," TAP Air Portugal President Fernando Pinto said. Source
  • Garbage piles mount in Greek capital as heatwave looms

    Economic CTV News
    ATHENS, Greece -- With a heat wave expected later this week, Greece's government on Monday failed to persuade striking garbage collectors to return to work after a 10-day protest left huge piles of trash around Athens. Source
  • Advice for retirees who must answer the question: Buy, sell or rent?

    Economic CTV News
    It wasn't that long ago when the outlook for retirees focused on baby boomers downsizing and moving into smaller homes in the country -- trading an urban lifestyle with a relaxing, rural retirement. Fast forward 20 years, and many retirees are opting to stay in their homes for longer: renovating, upgrading and improving accessibility along the way. Source
  • Shkreli defies advice to keep quiet before fraud trial

    Economic CTV News
    NEW YORK -- "Pharma Bro" just won’t keep his mouth shut. Even with his federal securities fraud trial set to begin Monday, Martin Shkreli has blatantly defied his attorneys’ advice to lay low. The former pharmaceutical CEO, who became a pariah after raising the cost of a life-saving drug 5,000 per cent, has been preening for cameras and trolling on social media, potentially complicating his defence. Source