Thank you, Mr. Speaker. Mr. Speaker, the Sahtu region stands at a critical juncture with the Norman Wells oil field. Canada's longest operational onshore oil field operating well beyond over a hundred years. This legacy is approaching the phase end of life and moving on to remediation and reclamation.
Mr. Speaker, in preparation for this huge tsunami, this economic tsunami, the remediation economy in the Northwest Territories is valued at $4.8 billion over the next 30 years, with as many as 500 sites requiring remediation. This represents an unprecedented economic opportunity for our territory, and in particularly for the Sahtu region. However, we are not taking measures adequate in preparatory positions.
Mr. Speaker, education is security. The federal government currently holds $180 million in financial security for the oil field. However, the cost for cleanup is expected to be much, much more. The training plan and preparation must recognize domestic trade demands. Mr. Speaker, this is why I'm championing NORTRAN, a design readiness trades training program for remediation and reclamation. NORTRAN could partner with the Aurora College and other NWT accredited agencies together as collaboration. Mr. Speaker, the infrastructure exists in Norman Wells support this. We have vacant commercial office spaces, student residential units, and the unoccupied Aurora College classroom. The time to act is now, Mr. Speaker. We must ensure that when the Norman Wells oil field closes, Sahtu residents/youth are not watching from the sidelines but credentially ready. I will later have questions to the appropriate Minister. Mahsi, Mr. Speaker.
Thank you, Member from the Sahtu. Members' statements. Member from the Mackenzie Delta.
