A local financial advisor is “cutting the emotion” from questions related to the new agreement reached with Quebec on Churchill Falls and future hydro development in Labrador.

Larry Short of Short Financial, a division of iA Private Wealth, told VOCM Open Line with Brian Callahan that Newfoundland and Labrador has a trapped resource and dealing with Quebec on achieving that development was the only option.

Listen to “Larry Short – Short Financial” on Spreaker.

“Even in 2041, we still have to sell to Quebec. And that’s what people are missing. There seems to be a belief that in 2041 we can renegotiate this contract with anybody, but we tried to find a way to use Quebec power lines in order to transmit through Quebec to customers in the United States and Ontario – we can’t.”

“We appealed to the Supreme Court of Canada, that’s going nowhere. Politically, Quebec’s got 78 seats, so even if Premier Wakeham became Prime Minister Wakeham tomorrow, he could not sway the political powers in this country in order to grant us those rights.”

Short says hydro development will have an economic impact on the province that will be equal to, if not bigger than, that of oil and gas.