We are constantly looking for ways to stimulate the economy of our province and our country.
Certainly, we have seen that for decades in agriculture, still a major economic driver in our local region, and across the Canadian Prairies.
Farmers have long been eager to try new crops which they hope will diversify their farm operations, and ultimately the entire sector. There have been major successes, the development of canola, the increase in pulse crops, (peas, lentils and beans), the recent uptake of soybeans.
And, there have been a few misses too, or at least efforts that have yet to be significant to the overall sector; lupins, seabuckthorn, wide acreages of coriander, caraway, and other crops.
But the effort to diversify continues.
On a different level many see the proposed Trans Mountain Pipeline as a key effort in terms of the Canadian economy.
Perrin Beatty, the president and CEO of the Canadian Chamber of Commerce provided to those attending the annual Saskatchewan Chamber of Commerce Conference in Yorkton that the pipeline is certainly a key issue in terms of the business sector.
The pipeline is hugely important in providing much needed access to world markets for Canadian oil, said Beatty, adding as it is the country has only one market for oil, the United States. He said as a result of that there is a loss of $45 million per day, which means lost jobs, and less revenue for governments.
The proposed project by Kinder Morgan has gone through all the required regulatory processes, and has been approved by the National Energy Board citing “on balance it is good for Canada,” said Beatty.
But the British Columbia government has stated it is going to use “every tool in its toolbox to frustrate the rule of law,” he said.
The decision in B.C. is frustrating because “a growing majority of British Columbians themselves support the project,” said Beatty.
The project hold-up sends a negative message in terms of investment in this country in the sense Kinder Morgan has done everything right, and is still being blocked, suggested Beatty.
“Play by the rules … it still can’t be done. What does it say to those looking to invest in Canada?” asked Beatty.
Beatty’s questions are certainly ones worth answers, but it also shows a desire to grow the economy.
And then there is the pending emergence of a cannabis industry in our country.
It is interesting to read reports Aurora Cannabis Inc., one of Canada’s largest marijuana companies has invested in retail liquor stores, an organic waste technology company, and acquired multiple cannabis producers, including CanniMed Therapeutics Inc. The buying spree includes a $3.2-billion agreement to purchase rival grower MedReleaf Corp. in the industry’s largest takeover.
There is a growing interest in the sector about to be created by the federal government opening the door through new legislation, and while there will be challenges with the Canada-wide introduction, it will certainly have an impact on the economy in a significant way as well.
