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I am an optimist, and proud of it. I may be a publisher, but I’m not of the breed which amplifies disaster for dramatic effect or monetary gain. I prefer to celebrate success, and to share stories where adversity is overcome. My glass is always at least half full. I determinedly walk through life with a whistle and a smile. Regardless how bad the news of the moment may be, I know that things could always be worse, and that tomorrow will surely be much better than today. But even I, confessed Pollyanna that I am, have had some difficulty seeing the bright side of the oil spill in the Gulf of Mexico.

For months now, we have been inundated with daily rations of doom and gloom. A massive explosion. Eleven people dead. The continuous failed attempts to cap the sprung well. A widening gyre of spewed oil. Coastlines and wetlands threatened. Fragile ecosystems under siege. Growing hostility and demands for immediate resolution. And only the bleakest prognostication for remediation. I admit that the silver lining is excessively thin on this one, but I am an optimist and I refuse to join the hopeless herd.

Yet, I am also a realist. I readily admit that I see no good whatsoever in the tragedy. It is a disaster of almost incomprehensible proportions, and I join with the company, its employees and indeed every sentient being on the entire planet in mourning the loss of life – both human and other. No, there is nothing positive to be found in the spill itself – but there will be in our collective response to this unprecedented event.

If you believe Newton’s law of motion, for every action, there is an equal and opposite reaction. Though it has not yet become fully evident, there is a growing groundswell dedicated to counteracting this catastrophe, and preventing a similar event from ever occurring again. There are countless scientists and billions of dollars committed to spill prevention and leak containment, to wildlife protection and environmental remediation, to new technologies and more effective safeguards. Piece by piece, and step by step, these things are already making themselves known. Mark my words: we will see much more of the same in the weeks, months and years to come.

History shows that events such as these are often responsible for momentous advances in human knowledge. I do not celebrate the oil spill, but I do look forward to the enhanced pool of wisdom that is sure to come. The price we’ve paid is too dear for it to be otherwise.

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As publisher of Atlantic Canada’s largest circulation business magazine, I travel extensively, regularly heading to Toronto, Calgary, Houston, Aberdeen and Stavanger. Literally and figuratively, travel broadens your horizons. Never was this more apparent than in the past 12 months.

Usually, my journeys leave me with a sense of awe and amazement at the wealth and industry I see beyond our borders. This time, however, it was this region that set the example for other jurisdictions. Where those locations were depressed and gloomy, our economy buzzed with talk of major projects like Hibernia South, Deep Panuke, Lower Churchill, wind power, and more.

Truly, I don’t think the Atlantic economy has ever looked so good, and the results achieved by this year’s Top 50 CEOs reinforce that perception. Collectively, these 50 individuals, and the companies they operate, generated over $12.5-billion in revenue, provided jobs for more than 57,000 people, volunteered with over 500 community and industry organizations and donated more than $38-million to charity. It’s enough to make you question if we even had a recession.

Seriously though, achieving these types of results, particularly under such grueling fiscal circumstances, is no mean feat. That these 40 men and 10 women retained their commitments to growing the greater community while having to realign their corporate strategies to new global realities makes their achievements even more worthy of recognition. With each accomplishment and triumph, they further validate the Top 50 CEO awards – Atlantic Canadian corporate leadership has never been more deserving of celebration.

This particular celebration wouldn’t be possible without the generous support of our corporate sponsors. A sincere thank you to them for their invaluable contributions. Gratitude is also owed to the Judges for donating their time and expertise to selecting this year’s award recipients. Last but not least, I’d like to acknowledge the dedicated efforts of our staff in organizing the awards gala and, of course, this magazine.

If there’s one thing I’ve learned after 25 years in the publishing business, it’s that enterprise and entrepreneurial activity is always an adventure. I can’t wait to see what this year’s travels bring.

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Who would have thought, 25 years ago when we signed the Atlantic Accord, that Atlantic Canada’s petroleum industry would have progressed as far as it has?

From our fog-shrouded shores have sprung three producing oil projects, one natural gas project in production with another slated to come on stream later this year, billions of barrels of oil produced, trillions of cubic feet of natural gas tapped, several refineries, thousands of people employed, inestimable amounts of infrastructure, billions and trillions more resources awaiting discovery – on and on it goes.

Yet, despite everything we’ve accomplished, there are still some naysayers out there who mock our progress. “We’re too small,” they say. “We’re nothing compared to the North Sea and Gulf of Mexico.” We may not be their equal – yet, but we’re a young, underexplored region and they’re mature basins with declining reserves. I know which position I’d rather be in.

Not so long ago, a senior oil executive told me (off the record) that Atlantic Canadians aren’t as proud of their petroleum resource as they should be. “I don’t think you realize what you have,” he said candidly. “A small Saudi Arabia, that’s what’s out there.”

Given how far our closest fields are located from land, more than a thousand times further than the most clear-eyed eagle can see, I can understand why people might not appreciate the extent of the activity taking place offshore. Out of sight truly is out of mind. Thankfully, a very visible change is underway.

Our onshore service and supply sector is growing apace with its offshore counterpart, with manufacturing facilities and fabrication yards appearing across the region with increasing regularity. Our industrial parks are growing, our knowledge base is expanding, and the collective awareness of the opportunity which faces us now, at this momentous point in our history, is beyond what any of us might have envisioned in our wildest dreams back in 1985.

We are on the verge of becoming the next Aberdeen, a hairsbreadth from turning into another Stavanger. Or, as one prescient oil exec put it, we’re a small Saudi Arabia in the making. Guess it’s time to break out the Oakleys.

As recently as the Offshore Technology Conference in Houston, I was approached

(as I often am) by a manufacturer who wanted an “in” with Atlantic Canada. I can’t say that I blame him. With Vale Inco spending upwards of $200-million on a nickel processing facility in Long Harbour, Newfoundland, and the Lower Churchill Hydroelectric Project churning its way towards fruition, with development proceeding on the Deep Panuke offshore natural gas project as well as the Hebron and Hibernia South offshore oil projects, and the region’s abundant renewable resources just coming into their own, plus New Brunswick plugging into the energy needs of the American northeast, there are literally billions and billions of dollars worth of capital investmen headed this way.

Though it’s enough to make my mouth water and my eyes slightly tear up, and even though I’ll be scrabbling for every bit of business I can get for a good many years yet, I still know I won’t be able to realize the full and lucrative long-term benefits attached to the many big projects that are underway and around the corner here in Eastern Canada. But there are plenty of people who are; Smarter, more talented and better trained younger men and women who are ideally positioned to reap the wealth of benefits from multiple major projects coming down the pipe over the next two decades.

Yes, I envy the younger generation the wealth and opportunity headed their way. At the same time, I should probably issue just a wee bit of a warning. We “seasoned” folks have more than a few tricks up our sleeves, honed through years of being more competitive in a tougher economic environment.With several months, perhaps even years to go, before this current recession gets thrown off for good, we’re going to be just as hungry for work as you are – but better equipped to fight for it. There’s nothing quite like a good scrap to make you feel young again.

Hubert Hutton
Publisher