Even as people prepare to march on Confederation Building today as part of a global effort to address climate change, the provincial government appears to be leaning heavily on oil for its financial well being.
Finance Minister Tom Osborne admits reaching forecast surplus by 2022 is “challenging”, but he remains hopeful.
Osborne wouldn’t directly say that the province will reach surplus by 2022-23 after DBRS said the outlook remains challenging.
He says the province has a bright future, and they’re working towards the goal and he remains optimistic. @VOCMNEWS #nlpoli pic.twitter.com/RdiQwKoOHE
— Ben Murphy VOCM (@BenMurphyVOCM) September 26, 2019
The 2019 budget forecast a surplus as a result of money flowing from the renewed Atlantic Accord, but even that looks unlikely according to DBRS which released its issuer credit rating for the province yesterday.
The province scored an A (low) for its long-term debt, which is stable, however DBRS says despite “significant progress” in addressing the budget gap, the outlook remains challenging, and further structural measures are needed to ease annual spending pressure.
Osborne admits, important decisions need to be made. The Minister says while reaching forecast surplus for 2020 is “challenging”, he remains optimistic given ongoing oil exploration efforts.
“For the next 40-50 years, we will need to use oil around the globe – but we do need to transition to a greener economy.”
Osborne says Our oil is amongst the cleanest in the world, and companies will want it as they become more environmentally friendly. @VOCMNEWS #nlpoli
— Ben Murphy VOCM (@BenMurphyVOCM) September 26, 2019
He says the message he wants to send to people at home is that the future looks bright. He cites the challenge of bridging where the province is today to the drilling of exploration wells and there are more announcements on offshore oil projects.
Demonstrations Around Province Join Millions Around the World
Local students will join millions of others around the world in a series of marches, today, calling for action on climate change.
There are over 6,600 events planned across 170 countries under the banner of the Global Climate Strike. Among those, marches are being organized in St. John’s and Corner Brook.
People will rally at Memorial University’s clock tower at 11:00 a.m. for what is expected to be the largest showing of local supporters, before they march their way up to Confederation Hill. VOCM Lunch Bunch with Andrew Hawthorn will have a special live show from the Hill starting at 12:30 p.m.
TOMORROW!
We’re doing the show LIVE from the #ClimateStrike at Confed, talking to the organizers and attendees about one of the most pressing issues of the generation.
Join us live at 12:30-1:00 on @590VOCM! pic.twitter.com/vWQyC4vTGm
— 𝔸𝕟𝕕𝕣𝕖𝕨 ℍ𝕒𝕨𝕥𝕙𝕠𝕣𝕟 (@hawthornandrewj) September 26, 2019
In Corner Brook, the march will form at 12:30 at Margaret Bowater Park and travel to city hall.
#Canada has 210 #ClimateStrikes during #WeekForFuture
Map https://t.co/Qqez0UX3Df
We in top 5 worldwide.
We have #elxn43 on Mon, Oct 21.
People need to keep the pressure on, vote & perhaps attend #100debates event Oct 3 https://t.co/Wwl4HWkrBy#FridaysForFuture #EarthStrike pic.twitter.com/635YqOBctn— Fridays For Future Canada (@FFFCanada) September 27, 2019
Memorial University’s senate has encouraged professors to grant their students academic amnesty, so they may participate without fear of academic repercussion. The English School District, meanwhile, has allowed students in secondary schools to take part if they provide signed permission forms.
Metrobus is lending its own support for the initiative by eliminating fares today between 10 a.m. and 2 p.m.
In support of the #ClimateStrike, ride for free between 10:00a and 2:00p on Friday, September 27, 2019
— Metrobus Transit (@MetrobusTransit) September 26, 2019
Greta Thunberg, the young social activist who has capture the world’s attention as she calls for decisive action on the climate crisis, will be taking part in a march in Montreal today.
Montreal, Canada! See you tomorrow at the strike! #climatestrike #fridaysforfuture pic.twitter.com/7TeqfEp8TK
— Greta Thunberg (@GretaThunberg) September 27, 2019
