Energy Plan - Government of Newfoundland and Labrador
Energy Plan - Government of Newfoundland and Labrador
Energy Plan - Government of Newfoundland and Labrador
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<strong>Energy</strong> <strong>and</strong> Our Economy<br />
<strong>Newfoundl<strong>and</strong></strong> <strong>and</strong> <strong>Labrador</strong>’s energy sector contributes more to this province’s<br />
real Gross Domestic Product (GDP) than any other. In 2006, the energy sector’s<br />
contribution to the <strong>Newfoundl<strong>and</strong></strong> <strong>and</strong> <strong>Labrador</strong> economy (as a percentage <strong>of</strong> total<br />
real GDP) exceeded that sector’s contribution in all other provinces, including<br />
Alberta.<br />
The energy sector not<br />
only generates significant<br />
revenues, but is a major<br />
employer in our province.<br />
This employment activity<br />
is expected to increase<br />
dramatically over the next<br />
several years, which will<br />
present us with the challenge<br />
<strong>of</strong> having enough skilled<br />
tradespeople <strong>and</strong> other<br />
qualified pr<strong>of</strong>essionals to<br />
support this growth.<br />
The energy sector not only generates significant revenues, but is a major employer<br />
in our province. This employment activity is expected to increase dramatically<br />
over the next several years, which will present us with the challenge <strong>of</strong> having<br />
enough skilled tradespeople <strong>and</strong> other qualified pr<strong>of</strong>essionals to support this<br />
growth.<br />
Figure 6.1<br />
Percentage <strong>of</strong> GDP from <strong>Energy</strong> Activities, 1997 - 2006<br />
Figure 6.2<br />
<strong>Energy</strong> Sector Contribution to GDP by Province, 2006<br />
The energy sector is also a key driver <strong>of</strong> innovation within the province. This<br />
activity has driven our businesses, as well as our research <strong>and</strong> educational<br />
institutions, to be leaders in innovation. Our innovation commitment continues,<br />
as there is the potential to do much more.<br />
We will also use our <strong>Energy</strong> Warehouse as a tool for economic <strong>and</strong> rural<br />
development. With it, we can provide industries carrying out work in our province<br />
with necessary power at a competitive price.<br />
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