That's an interesting point and an interesting question.
In terms of hydrocarbons, once again, this is all tied to global supply and demand. The fracking in shale oil and gas and how we've seen that explode onto the scene in recent years may be a game changer. Some predictions are suggesting that the continental United States might be energy self-sufficient relatively soon. It really changes the equation about how much push there's going to be for offshore oil and gas in the Arctic, where a lot of the attention has been devoted to Arctic resources.
There's always a balance when we're looking at hydrocarbons and resource issues. The real centre of gravity is mining, right? This is in the NWT, and Mr. Bevington can speak to that with more knowledge than I can. In the Yukon, you look at what's changed in those territories, thanks to clearly Canadian resource on land. This is really pushing economic growth.
In terms of the chair, it's a really interesting point. It's always striking the right balance. I mean, the Arctic Council has been operating for 16 years to this point. There's a lot of work, research, issue areas that are already in the pipeline. Part of being a chair is that you can go in and celebrate what's already being done. A few of those things will become ripe while you're in the chair, so you can claim some of the credit for them. That's one approach to being a chair.
The other approach is to come in and say, “Here are some issues that we pushed for at the forefront.” For example, Canada was adamant that the Arctic environmental protection strategy, the precursor to the Arctic Council, had a social development component to it—a social development working group.
It's not necessarily about being the shining light of the Arctic Council. If Canada were to go in as chair, and there are some murmurs that we might, and say we're going to emphasize responsible development and health—after all, it's a health minister and a northern economic development minister who's also Arctic Council minister—these are ways of taking something that resonates with the Canadian national agenda but is also important to our circumpolar neighbours.... I think there are opportunities to harmonize.
I'm hopefully not leaving you with a sense that this should be a callous, self-interested, self-aggrandizing notion, where we go in as chair and start to broadcast to the world how great we've been for creating the Arctic Council. We're a mature, confident player on the international stage. Go in there and the world will draw that attention. It's much better if everybody else trumpets Canada's contributions to all of that. Approach the council with confidence and see this chair as a celebration, a culmination of 16 years.
Everybody knows the Arctic Council was largely a Canadian brainchild. In some way or another, whatever comes out of that chair, you can pitch it as a celebration that has been thriving. To me, that's a win-win. I think every party has a vested interest and a stake in being able to claim a constructive part in the creation of the Arctic Council.