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This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals. It may be divided into two categories: genetic industry, including the production of raw materials that may be increased by human intervention in the production process; and extractive industry, including the production of exhaustible raw materials that cannot be augmented through cultivation.
An industry is a group of companies that are related based on their primary business activities. In modern economies, there are dozens of industry classifications, which are typically grouped into larger categories called sectors.
Canada’s energy future lies in the oil sands. Our country possesses approximately 170 billion barrels of oil that can be recovered with today’s technology. Of that number, 165 billion barrels are located in the oil sands.
Natural gas is a form of energy that most Canadians use daily to heat their homes. It is also often used for household appliances, climate control systems and some vehicles, such as those that run on propane. There is a wide variety of natural gas types, with various types in different formations across the country. British Columbia, Alberta, Quebec, Nova Scotia and the Northwest Territories all have significant natural gas resources.
As a member of the Farmingdale State ERP Alliance, you will receive quarterly newsletters that keep you up to speed with what it is that the Alliance is doing. Also, you will have the ability to register for any ERP Alliance events before registration is open to the public.
Yes. All industries are encouraged.
We all use oil in our day-to-day lives. Oil can be mined or pumped to the surface using various extraction techniques. From there, it is transported through pipelines to refineries where it is upgraded into products like the gasoline we fill our cars with, jet fuel as well as heating oil. Other by-products of crude oil include: clothing from synthetic fabrics, circuit boards, carpeting, deodorant, shampoo, electrical insulation, toothpaste, pill capsules and pharmaceuticals.
Those who are recognized as industry experts have a leg up in the business world. They command higher fees, open doors more easily and are often called upon by the media for quotes and feature stories.
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Areas must not depend on raw materials from outside their area. Raw materials must be locally produced. They should be indigenous. Those people who love the society must think in terms of an industrial revolution based on the raw materials available in that particular area.
The local government would manage key industries. However, they would be guided by the principle of ‘no profit, no loss.’ Medium-scale industries should be managed by cooperatives, but should not be guided by monopoly production and profit. The cooperative sector will be the main sector of the economy. Small-scale and cottage industries will be in the hands of individuals. Though privately owned, they must maintain adjustment with the cooperatives to ensure a balanced economy.
It occurs due to the application of scientific methods which causes a great increase in production in excess of demand and leads to the problem of what to do with the excess.
If an area becomes industrially overdeveloped, or the more the percentage of people engaged in industry increases above 30-40 percent, they will not find a market for the consumer goods they produce, and they will suffer from economic depression and growing unemployment.
New and diversified styles of consumption should be continually invented. Okra is presently used only as a vegetable. But, oil can be extracted from the okra seeds and processed and marketed as edible oil. Fine thread can be manufactured from the okra plant and good quality clothes made from that thread.
The three parts of PROUT’s industrial structure are:
- Key industries, to be managed by the immediate or local government
- Private enterprises
This three-tiered system will remove confusion about whether any industry should be managed privately or by the government, and will avoid duplication between the government and private enterprise.