The energy sector is complex. Today, as never before, the energy industry must balance many obligations and opportunities in a rapidly changing world. Nova Scotia is in the exciting early stages of becoming a major petroleum-exporting province. Recent offshore developments have resulted in large capital expenditures, new pipeline infrastructure and employment. These developments are the catalysts for business spin-offs to both existing and new businesses throughout our province and Canada.
More projects lie ahead.
The activities and new relationships created by offshore petroleum are becoming part of our daily lives. Halifax is North America's newest energy capital. Locations such as Goldboro, Port Hawkesbury and Point Tupper have the potential to attract major new industrial developments. We must continue to ensure our business climate is competitive and attractive so that the energy sector significantly contributes to Nova Scotia's future economic growth. At the same time, significant changes are occurring in other parts of the energy sector.