Mark P. Mills is a founding partner in energy-tech-focused Digital Power Capital, a private equity firm focused on new technologies that arise from the convergence of power and the tools, materials and software of the digital age.
In child psychology birth order is often considered significantly determinative. Younger siblings often learn lessons watching the elder ones, well, screw up. Canada is almost a full century younger than its North American sibling. What exactly is going on above the 49th parallel? First quarter 2011 my Canadian brethren and sisters (full disclosure, je suis Canadien) delivered a 3.9 percent GDP growth rate against an enervating 1.8 percent U.S. rate. Just a few short years ago, nobody would have predicted this.
Nearly one-third of Canada’s GDP is export-based with nearly half of that coming from minerals, metals and fuels. It is a nation extracting value from its natural environment, not ‘plundering’, as Canadians’ respect for their land is deep and abiding. And America benefits, receiving three-fourths of Canada’s exports.
Of particular interest these days is the re-invigorated gold rush in that vast northern expanse. No surprise. Gold is expensive again, bouncing around $1,500 an ounce.