Mr. Speaker, energy means oil, gas and hydroelectric power. All of us have experienced the economic impact on increased demand for energy in Canada and the United States. While this has resulted in a welcome boom in employment, business opportunities and revenues for the people of the Mackenzie Delta, Sahtu and Deh Cho, where energy reserves are located, it has also resulted in increased energy costs for everyone.

While the governments of Canada and United States are now aware, very aware, of the significant oil and gas reserves within the Northwest Territories, we still have much to learn and to report to the people of the Northwest Territories about the immense hydroelectric potential of Northwest Territories' rivers. Over the next two years, we will continue to examine the feasibility of developing this potential to provide long-term revenue sources for both aboriginal and territorial governments. It is worth noting that this potential can be reached using the natural flow or "run of the river" without extensive flooding, thereby minimizing any adverse environmental impacts.

With the release of the proposed U.S. National Energy Policy, our government foresees increased interest in accessing our oil, gas and hydro resources. The Minister of Resources, Wildlife and Economic Development will provide a progress report on developing our energy reserves. He will review what we are doing to maximize benefits for the people of the Northwest Territories, to protect the land and environment and to see that territorial concerns are considered in Canada's response to the proposed U.S. National Energy Policy.

We have also heard from residents and this Legislature that energy resource development must result in clean, affordable and accessible energy for our residents, our people. Presently, departments and agencies are undertaking separate initiatives to reduce energy costs for consumers ranging from the Greenhouse Gas Strategy to energy conservation to developing alternatives to diesel generation of power and heat.

To coordinate this work and to prepare an Energy Strategy to guide energy development and use within the Northwest Territories, I am pleased to announce today the establishment of an Energy Secretariat within the Department of Executive. I will lead the new Energy Secretariat, which will have a two-year mandate. I look forward to working with aboriginal and municipal governments, industry and other stakeholders to develop a Northwest Territories Energy Strategy.