When it comes to Atlantic Canada’s natural resources sector, it all adds up

When it comes to Atlantic Canada’s natural resources sector, it all adds up

As a magazine publisher, I work with words all the time but some of my favorite stories are told with numbers. Like 250,000 (our minimum readership per issue). Or 38,060 (the base circulation for each issue of Natural Resources Magazine). And .005–.02 (the minimum cost per reader to advertise in our magazine). The reason I like numbers so much is because they’re so definitively quantitative: you know exactly what’s being said when information is delivered in such measurable terms.

That’s why I was so impressed with recent research compiled by Caron Hawco Group for OceansAdvance Inc. (the advocacy group for Newfoundland and Labrador’s ocean technology innovation cluster). The report is dense with numbers—all of them incredibly meaningful.

The report starts with a premise of $3 trillion (USD). According to the Organization for Economic Co-operation and Development, that’s the projected value of the world’s ocean-related economy by 2030, with an accompanying 40 million full-time jobs. It was $1.5 trillion in 2010; an easy calculation shows that ocean-related output is expected to double within the next 20 years. But wait, there’s more…

Did you know that Newfoundland and Labrador has the largest ocean economy in Canada (representing 53 per cent of the national total)—and that it employs 40,000 people? Or that Memorial University is “the only Canadian university on the list of the world’s top post-secondary institutions for the study of marine/ocean engineering”? And that the province’s petroleum industry has invested over $500 million in R&D, education and training in less than a decade? Or that the province produced $120 billion worth of oil in the past 20 years and that 25 per cent of the country’s conventional light crude comes from Newfoundland and Labrador? Did you also know that in 2017, the fishery of this historically have-not province employed 16,600 people in over 400 communities, totaling $1.3 billion worth of fish and seafood production?

The numbers don’t stop there, but I’ve already reached the moral of the story: Newfoundland and Labrador is but one of four provinces in the regional Ocean Supercluster that’s committed to spending a minimum $300-million-plus on ocean-related initiatives. And the Ocean Supercluster is but one of many natural resource sectors that are creating wealth for current and future generations.

Looking for proof? Check out the six winners of our 2019 Industry Excellence Awards. And read The Deeps (page 19), where you’ll find out about the 1,000+ metres of deep-water drilling that Equinor has planned for Bay du Nord. Then turn to Tim Froude’s 30-year ‘overnight’ mining success story, and follow the seesaw battle over the region’s multimillion-dollar surf clam resource.

Long story short? Follow the numbers, dear reader. They add up to a compelling tale.

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