N.L. should unleash the power of oil and gas at home and abroad

Newfoundland and Labrador stands ready to boost the local economy and help the world overcome its energy supply challenges—that is, provided that policymakers in St. John’s seize the moment. Recent geopolitical events, including sanctions on Russia and disruptions in the Red Sea, underscore the province’s potential to boost the local economy and bolster global energy supplies. However, a recent Fraser Institute survey ranks the province at a troubling 14th out of 17 in attractiveness to energy investors, largely due to regulatory hurdles and governmental red tape. As Europe and other regions seek reliable energy sources, it’s crucial that the House of Assembly streamline regulations, clarify fiscal terms, and foster a more inviting investment environment. After all, oil and gas are cornerstones of the province’s economy, and the future economic stability of Newfoundland and Labrador—as well as its capability to meet international energy demands—hinge critically on getting this right.

Check out the full story from Saltwire here.