World energy needs and the rising cost of fuel were on the minds of the four Atlantic premiers who gathered for the Council of Atlantic Premiers in Pictou, Nova Scotia.
New Brunswick’s Blaine Higgs said Canada finds itself subjected with supply volatility in the market and he adds it shouldn’t be happening here.
“We should be a major contributor to the situation for our allies. We feel in the Atlantic region, we can play a major role in that. And there are investors that want to come here and be part of the solution.”
Higgs said preliminary talks have been held with First Nations and developers over shale gas exploration which has been a controversial topic in the province.
He also mentioned Saint John LNG could be converted to an export facility in a relatively short period of time.
Higgs noted the region needs to boost its supply of energy or face escalating costs in the future.
“We’re looking at double digit numbers in electrical costs over the coming years and in each year really over the coming years. We’re going to be faced with that and we have to have a policy that’s going to start to mitigate the energy costs.”
Higgs believes the federal government needs to play a role in energy policies to help mitigate costs.
He added inflation is bad now but it will get even worse if we don’t increase our energy supply.
The four premiers also discussed potential renewable energy opportunities, including hydrogen development and use, as well as wind, solar and tidal power and small modular nuclear reactors.
The premiers acknowledged the so-called Atlantic Loop will benefit the region but concerns regarding the costs and timelines were expressed.
The $5 billion initiative would create an energy corridor to connect the four Atlantic provinces to hydroelectricity from Quebec and Labrador.
