Thanks to former Premier Danny Williams, Newfoundland & Labrador has a state owned oil company. Williams wanted his province not only to benefit from the royalties from offshore oil but to have the benefit of ownership as well. This led to the creation of the Oil & Gas Corporation of Newfoundland & Labrador (OilCoNL), the crown corporation that holds equity in three major oil fields, Hebron, White Rose and Hibernia. The company originally began as a division of Nalcor before becoming a crown corporation in 2019.

Our podcast this week features a very interesting conversation with Jim Keating, the CEO and employee number one with OilCo who provided a comprehensive overview of the financial return associated with a state owned oil company and the enormous opportunity of the province's offshore oil & gas sector. The province earned $1.5 billion in royalties from the offshore in the last month alone. The offshore oil sector provides about 20% of the province's annual GDP. OilCo now has accumulated $1.3 billion in assets as a result of its investments to date and earned nearly $800 million in dividends since 2010. Keating indicated that Oilco has a legislated right to purchase up to 10% equity in any new discovery that leads to a producing well. The company is expected to take equity in the Bay du Nord project which is expected to be confirmed in early 2027. Bay du Nord's initial phase is expected to generate 500-600 barrels of oil over its lifetime and is the first of several phases. There are interesting lessons for Nova Scotia in the success of OilCo as it attempts to restart its offshore oil & gas sector.

One of Canada's most prolific and celebrated thinkers on regional economic development in Canada, Université de Moncton professor Donald Savoie is back on the Insights podcast to discuss his latest book, a biography of former New Brunswick Premier Louis J. Robichaud. This is a timely work that exposes a new generation to LJR's radical program to foster Equal Opportunity in New Brunswick, spanning everything from regional economic development to health care and education. Savoie tells Don and David about Robichaud's biggest reforms, including the modernization of the public service, the centralization of government administration in Fredericton, and the establishment of the Université de Moncton. He also suggests that LJR might not have been effective if he were leading the government today in the era of social media and deepening skepticism of politics. This was a thoroughly interesting conversation and well worth an hour of your time.

On this week's Insights podcast, Don and David talk with David Chaundy, President and CEO of the Atlantic Economic Council. The Council was established back in 1954 to provide research and support to economic development efforts across the region. Chaundy has been running the organization since 2018 and is passionate about its role helping the region address its biggest challenges and opportunities. We discuss everything from growth industries to demographics and the importance of regional cooperation. At times sobering (e.g. when Chaundy rattles off statistics about our health care and education systems) and inspiring (e.g. when he makes the case for a long-term vision), you will enjoy the conversation. You can learn more about the council and download public research reports at https://atlanticeconomiccouncil.ca/.

On this week’s Insights podcast, Don and David are joined by the Honourable Luke Randall, Minister responsible for Opportunities NB (ONB), Economic Development and Small Business, NB Liquor and Cannabis NB and Traci Simmons, Deputy Minister of Economic Development and Small Business and the Chief Executive Officer of ONB. The topic of the conversation is the Government of New Brunswick’s new Economic Development Strategy. The government wants to boost real gross domestic product (GDP) by 10 percent by 2030. Given the current context including a return to provincial population decline, increasing trade tensions with the United States, global competition for investment, an aging workforce and the rise of artificial intelligence, achieving this goal will be challenging.

The conversation covers a wide range of issues including: how the province tends to foster a more productive economy, a return to population growth, diversification of trade, industrial opportunities including mining and energy, ‘investment-ready’ industrial sites and the new ‘Growth Office’. Don and David also raise the issue of competitiveness at a time of rising energy and wage costs across the province. Collaboration is another important topic including between various government departments and agencies and also with other provincial governments within Atlantic Canada.

If you are looking for a primer on New Brunswick’s approach to economic development and population growth, this podcast is well worth an hour of your time.

On this week’s Insights podcast, Don and David are joined by Krista Han, Managing Partner with Doane Grant Thornton in New Brunswick. Globally, the accounting industry is dominated by the 'Big 4' firms: EY, KPMG, Deloitte and PwC, but in Atlantic Canada, Doane Grant Thornton has the largest market share. Krista discusses the major challenges and opportunities facing the firm in Atlantic Canada, as well as the top trends in the accounting sector. We also spent some time on what is keeping Doane Grant Thornton's clients up at night. From finding talented workers to planning for business succession, there is no one better placed than Krista to help us understand what business leaders across Atlantic Canada are thinking.

As part of a continuing series of podcasts focused on energy opportunities in Atlantic Canada, our guest on this episode of the Insights Podcast is Matt Campbell, the author of the recent Deloitte Energy White Paper that asks an important question: Is this Atlantic Canada’s energy superpower moment? Matt is the Energy Transformational Leader for Deloitte in Atlantic Canada. In our conversation, Matt outlines the major renewable energy opportunities, including offshore wind and hydrogen gas. He talks about the growing need for a more coordinated regional approach to energy development and for strengthening policy alignment, technology development, and supply chain readiness. He emphasizes the opportunity presented by wind-hydro complementarity, which has already prompted Quebec Power to express interest in Nova Scotia’s offshore wind development. With demand for electricity in Canada expected to double by 2050, Atlantic Canada can become a net exporter of electricity to other parts of the country. We discussed the importance of strengthening national energy security and grid resilience. For anyone following the energy sector, this podcast is a must-listen.

We were asked to be the keynote speakers at last week's State of the Strait in Port Hawkesbury sponsored by the Strait Area Chamber of Commerce. During our two day visit to the Strait we were able to tour both the Everwind Fuels Marine Terminal, which can store 7.5 million litres of fuel in transit to other destinations, and the Port Hawkesbury Paper Mill, one of only three super calendar paper mills in North America. Everwind is the company pursuing the development of hydrogen gas using onshore wind as a green energy source. The area is already an important industrial hub in Nova Scotia but could become an even more important hub with an industrial strategy to leverage its year round deep, ice free harbour.

In December 2024, Don Mills and David Campbell had a rare and exclusive opportunity to interview Robert K. Irving on the Insights podcast.

Mr. Irving passed away on May 19, 2026.

This is a re-release of that Insights podcast.

In the podcast, the Co-CEO of JD Irving shared information about the companies under his direction, their continued growth, major recent capital investments and succession. Robert, along with his brother Jim Irving, oversaw Midland Trucking, Midland Courier, Irving Tissue and Cavendish Farms, amongst others. They are operated out of a head office in Dieppe and employ more than 2,000 people in the Moncton area alone, including 700 head office jobs. JDI may not be a household name for all Canadians, but it's the largest vertically integrated conglomerate in Atlantic Canada and one of the biggest in Canada, with more than 20,000 employees. This is a surprisingly candid conversation with one of the region's most important yet reticent business leaders, who shared many facts not previously known publicly.