Canada’s natural resources sectors are the bedrock of the economy but are they engines of innovation? Unfortunately not often enough, but that doesn’t mean diligent efforts aren’t being made to diversify the products and economic benefits they provide.
This issue examines the innovative actions being made to transform the forestry sector by adding value through the application of science and technology. Similar efforts are being made in the mining, oil and gas sectors with varying results.
By applying nanotechnology, biotechnology and other scientific expertise to our forests, new products and markets are opening that hold the promise of high-paying jobs not typically associated with trees.
The economic impact of natural resources is hard to sustain, much less predict, given the cyclical nature of commodity markets. The current downturn in oil and gas prices is a case in point. Depressed prices have shaved billions in revenue from the ledgers of companies and governments, particularly in Alberta and federally.
By using S&T to reduce the costs and environmental impact of natural resource extraction, the economic consequences of lower prices can be reduced and new goods and services can be produced.
Canada has a strong tradition of collaboration among sectors and this can be exploited to much greater advantage. The role of government in facilitating and (at least partially) funding collaboration will ensure that we continue to gain benefits from these assets.
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