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:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)