The tariffs on Canadian imports imposed by Donald Trump and the United States have been enacted. These measures mark the beginning of a trade conflict with an uncertain resolution timeline. The Canadian economy, including New Brunswick, is expected to be significantly impacted. Approximately 2.5 million Canadian jobs may be affected, with nearly 40,000 of those in New Brunswick.
The exact trajectory of this situation is unknown, but it is clear that it will not be resolved quickly. Hence, New Brunswick must develop a strategic plan to maintain its current economic status. Industries such as the oil refinery in Saint John, lumber, fish, and other commodities will be affected.
A major concern, for us, is the potential reduction in transfer payments to New Brunswick, which account for one-third of the province’s budget. Danielle Smith, Premier of Alberta, and Scott Moe, Premier of Saskatchewan, have been addressing this issue for years. They question the logic of drilling for gas and oil in other regions while New Brunswick possesses substantial natural gas reserves.
The McCully Gas field near Sussex, N.B., has known reserves of 72 trillion standard cubic feet (TCF) of natural gas resources. For comparison, Canada used 4.3 TCF in 2023 and has an estimated 1,361 TCF of natural gas resources, according to the Canadian Gas Association. This resource has the potential to:
- Generate billions in royalty and tax revenue
- Reduce reliance on expensive U.S. and foreign LNG imports
- Replace coal-fired power plants
- Establish New Brunswick as an LNG export hub
It is recognized that development of this type requires the involvement of First Nations. Last fall, CCC hosted a seminar with several chiefs of First Nations in New Brunswick. A marketing plan and a detailed analysis of fracking implications and associated risks were presented. The meeting indicated interest in advancing negotiations.
While the Holt government has previously opposed fracking, there are indications they might reconsider. The potential reserves represent at least $8.5 billion needed for a balanced budget over the next few years. It should be noted that this is considered a transition fuel, which may eventually be replaced by nuclear or other forms of energy.
CCC (Community of Creative Citizens Inc) is a non-partisan group of long-term residents representing various geographies, ethnic backgrounds, and genders of New Brunswick. Our vision is to promote the personal, civic, and economic well-being of the citizens of New Brunswick. We view ourselves as working alongside politicians and bureaucrats. In this complex world, a centralized government cannot manage everything alone. We advocate for decentralization, allowing municipalities to have more engagement in determining their future.
We continue to work on finding better ways to deliver services in health, education, energy, and agriculture. Recently, we collaborated with the Agricultural Alliance in a joint venture, engaging consultants to propose a plan for food sustainability. Achieving self-sufficiency in food production is essential as our imports currently exceed exports, and this needs to change. Additionally, focusing on our economy is crucial, as it drives all other factors. Expanding our economy is challenging due to our lack of energy capacity, and decisions about the future of NB Power must be addressed now.
In conclusion, we cannot do this alone and need assistance to meet expenses such as office, administration, travel, advertising, and consultants. We also have a board of directors and various committees you may wish to serve on. If you would like to discuss issues further, I or a member of our team would be pleased to meet with you.
Yours sincerely,
Daryl K. Branscombe, President
COMMUNITY OF CREATIVE CITIZENS INC.