Fredericton Chamber Supports Shale Gas Exploration

Fredericton Chamber Supports Shale Gas Exploration
For Immediate Release
Thursday, March 22nd

(FREDERICTON, NB) -- The Board of Directors of the Fredericton Chamber of Commerce has been reviewing and discussing the issue of shale gas exploration for the past several months and is in a position to state that the Board supports continued exploration to determine if there is a viable industry to develop in New Brunswick.

In studying the issue, the Fredericton Chamber of Commerce has invited several individuals and groups to make presentations to our policy development committees and board. These presenters include the Conservation Council of New Brunswick, the Department of Earth Sciences at UNB, the Province of NB’s Business NB Natural Gas Unit, and Robert Youden, Chair of the Board of the Canadian Chamber of Commerce. In meeting with these representatives, it was our goal to better understand and determine an opinion on this complicated issue. These presentations have assisted the Board in coming to the conclusion that we should be in support of exploration at this time, and that the shale gas industry could improve the prosperity of our province and provide economic opportunities for many New Brunswickers.

If exploratory work continues this spring as is expected, we will discover if there is a viable opportunity for industry here. Until we have this information, The Fredericton Chamber of Commerce does not take a position on whether work should proceed to the development stage. When and if viability is determined, there will be several factors that will guide whether the Chamber can support development. We will need to carefully consider whether the provincial government has the necessary world class regulations in place to foster a safe, productive development environment, and whether there are sufficient resources to ensure enforcement of these regulations in a way that mitigates any associated risks. The health and safety of all New Brunswickers, and the protection of our environment must be first and foremost in the minds of those preparing for this industry.

The public has concerns and questions regarding the economic benefit to our province if this industry develops and matures. For example, will the royalty structure provide enough benefit to warrant the development of the industry? At this time it is premature to estimate the financial impact the industry might have. The benefit cannot be understood until we understand the volume of the resource. We urge our government and the companies involved in the exploratory phase to keep us informed as they proceed and indeed, to keep all New Brunswickers informed on this very important issue. It is imperative that the concerns of the public and the business community are respected and addressed on an ongoing basis. If the industry proceeds, it must be done in a responsible, safe and sustainable manner for all New Brunswickers.

With more than 900 members, the Fredericton Chamber of Commerce is one of Atlantic Canada’s largest chambers of commerce. A dynamic and relevant business organization, the Fredericton Chamber of Commerce is actively engaged in policy development that affects the competitiveness of our members and of the Canadian business environment.

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Contact: Krista Ross, Chief Executive Officer, 451-9744.