Mentioning Churchill Falls without discussing how unfair it was for the province of Newfoundland AND Labrador is strange as it is a textbook example of the problems besetting the Canadian economy vis a vis federal powers and interprovincial trade. As with respect to private-public partnerships, the extant research raises a myriad of concerns about the model, not the least of which is the cost of capital in an age of low interest rates.
Industrial policy is an age-old problem in Canada that has challenged the brightest Canadians going back generations. In lieu of solving this conundrum, we could develop the most environmentally-sound methods to exploit our natural resources while simultaneously working on multilateral agreements to enforce high standards across the world.
You are right that the negotiations between Quebec, NL& Labrador and their respective hydropower corporations when it came to Churchill Falls was considered unfair. It is one of many issues that occurred in the buildup of all this infrastructure. It is why I mentioned in the final paragraph that it is key to learn from past mistakes. There are plenty of historical examples on how to do things well and how to do things terrible.
With regards to the bad blood between the Provinces, there seems to be some progress to ammend the mistakes of the past.
Mentioning Churchill Falls without discussing how unfair it was for the province of Newfoundland AND Labrador is strange as it is a textbook example of the problems besetting the Canadian economy vis a vis federal powers and interprovincial trade. As with respect to private-public partnerships, the extant research raises a myriad of concerns about the model, not the least of which is the cost of capital in an age of low interest rates.
Industrial policy is an age-old problem in Canada that has challenged the brightest Canadians going back generations. In lieu of solving this conundrum, we could develop the most environmentally-sound methods to exploit our natural resources while simultaneously working on multilateral agreements to enforce high standards across the world.
You are right that the negotiations between Quebec, NL& Labrador and their respective hydropower corporations when it came to Churchill Falls was considered unfair. It is one of many issues that occurred in the buildup of all this infrastructure. It is why I mentioned in the final paragraph that it is key to learn from past mistakes. There are plenty of historical examples on how to do things well and how to do things terrible.
With regards to the bad blood between the Provinces, there seems to be some progress to ammend the mistakes of the past.
https://www.theglobeandmail.com/business/commentary/article-quebec-newfoundland-labrador-energy-churchill-falls-legault-furey/
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