Churchill Falls: A Double-Edged Sword for Newfoundland and Labrador
Premier John Hogan is pinning the province's future on a single, unfinished deal with Quebec.
For the past month, Premier John Hogan has been focusing on the province's energy future in the Newfoundland and Labrador election. He made a vow in Happy Valley-Goose Bay to ensure the redevelopment of the Churchill Falls hydroelectric project if his Liberal government is re-elected.
The project and a tentative new development deal with Quebec are crucial to the province's finances, promising to unlock hundreds of billions in new revenue and create an estimated 8,000 new jobs.
The proposed redevelopment of the massive Churchill Falls hydroelectric project could turbo-charge the provincial economy and right a decades-long dispute with neighbouring Quebec.
The project could radically transform the economic outlook of a province that was on the brink of financial disaster just five years ago.
Author's summary: Churchill Falls may bring wealth or financial ruin to Newfoundland and Labrador.
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