The Coastal Economy
The promise of jobs for economically depressed coastal communities
is an empty one. The truth is, more jobs could be at risk
for British Columbia’s coastal communities. The offshore
oil and gas industry is highly specialized causing oil companies
to likely bring in experienced crews from other projects.
In fact, these specialized work crews travel the globe from
site to site, which would limit the possibilities for local
people, who would need training in offshore surveying, exploratory
drilling and facility construction. Also, the global and competitive
nature of this industry leaves little room for local control
or economic benefits. A report contracted by the provincial
government stated, “government must recognize that major
benefits from offshore development tend to flow out of the
province. The return on investment will flow out of the province
to non-resident operating companies. In the Atlantic, for
example, most of the oil and gas is exported to the U.S. Few
local companies played a significant role in supplying goods
and services during field development.”
For further reading about the economic realities
of Newfoundland's offshore oil and gas industry click here.
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