Probably too good to be true

I was sitting down with my coffee and the Telegraph-Journal only to read that some consultant was saying the energy boom was “probably too good to be true”. I pity that guy.

Then, I read on.

It was me.

Ooops.

Actually, the article reflects my opinion but just for clarity, my concern is related to after the construction of all these projects – not questionning the economic impact of those projects. First, most of them are well known and second we have not seen the full economic impact model that was developed.

The reality is that Saint John is in for a roller coaster of a ride. There are a lot of good people working on this (like Bob Manning). My comments are meant to be helpful.

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0 Responses to Probably too good to be true

  1. Danny D'Amours says:

    You made the front page of the Gleaner too. I was shocked to see a business / economy story there! Almost as it were important or something.

    I totally agree with your assessment of the situation. I think that most people are hoping that more big projects will come down the pipe to keep the large number of construction workers occupied but I doubt that private industry will step to the plate here. Perhaps we should consider spacing out some of the project a little more to avoid the boom altogether. The LNG is obviously a go (and if I’m not mistaken almost done). We don’t have much control over timing of the second refinery if it does get through environmental assessment (HA, HA, HA!!! :-) ) but maybe the provincial gov’t should consider delaying the building of a second Lepreau until some of the other projects are winding down.

    On the other hand, if NB Power has a strong case for building Lepreau II (which I am HIGHLY skeptical about), we should waste no time in proceeding.

    I was disappointed with the Gleaner article in that it didn’t try to even counter your concern but instead it went on to discuss how they planned to manage the boom.

    Oh well, better to boom and bust than to never have boomed at all…..