'All the resources the province needs, it already owns. What’s crucial is a policy framework supporting development,’ writes David V. Richards.
Former Newfoundland premier Joey Smallwood stands near the Churchill River in Labrador before the 1969 Churchill Falls power agreement was signed with Quebec. — SaltWire Network file photoAfter the discovery of Hibernia, the much-loved Newfoundland satirist, Ray Guy, wrote of the social friction that could arise from sudden wealth. Tens and 20s and 50s blowing onto the neighbour’s lawn from untended piles of currency. Mr. Guy advised we would all need to be neighbourly and tidy up.
Retaining or recalling a portion of the Churchill Falls power for use in Newfoundland and Labrador should be part of any deal to sell. Bringing the power to the island should be considered as doing so would enable new industry on a truly transformational scale. And assuming the power is purchased on market terms, the portion retained would not reduce the value of a sale.
Financial flexibility, coupled with additional power from Churchill Falls, sets up incredible possibilities. Blue hydrogen, endorsed on a scanty veneer of credibility in August of this year, becomes viable without building a single windmill. And proximity to Europe is Newfoundland’s unique strategic advantage. In a geopolitical environment where the world is threatened by energy tyranny, the world needs Canada to have a global perspective.
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