Economy
Agriculture of the Northwest Territories is nearly impossible except for limited cultivation south of the Mackenzie River area. Trapping, stands as the regions oldest industry, which ranks second following mining. Another thriving industry is fishing, based on lake trout and whitefish, is centered on the village of Hay River, on Great Slave Lake. Minerals are currently the Territories' most valuable natural resource. Oil is to be pumped and refined at Tulita (formerly Fort Norman) and Norman Wells on the Mackenzie River. Copper is extracted on the Coppermine River. Diamonds and Gold are currently produced in increasing amounts. The region also includes tungsten, silver, cadmium, and nickel.
Significant hydroelectric developments are on the Talston and Snare rivers.
Read more about this topic: Geography Of The Northwest Territories
Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)