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Economy of Arcerion: Difference between revisions
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=== Governorate Disparity === | === Governorate Disparity === | ||
Beginning in the 1980s, the traditional makeup of the Arcer economy began to change significantly. Moorden, with its plentiful metal extraction sites, steel factories, and financial institutions had always been the leading Governorate in Arcerion. Closely following this was Northlea Governorate, due to the large agricultural exports. Foxhey, Norham, and Howland Governorate all generally shared the last third of the country's gross domestic product and national economic output due to economies that largely could not compete with the existing duality between Moorden and Northlea. However the 1980s Albion Sea Gas boom shifted this balance significantly, and Howland quickly became an equal to Northlea due to its liquid natural gas and undersea crude oil extraction. | Beginning in the 1980s, the traditional makeup of the Arcer economy began to change significantly. Moorden, with its plentiful metal extraction sites, steel factories, and financial institutions had always been the leading Governorate in Arcerion. Closely following this was Northlea Governorate, due to the large agricultural exports. Foxhey, Norham, and Howland Governorate all generally shared the last third of the country's gross domestic product and national economic output due to economies that largely could not compete with the existing duality between Moorden and Northlea. However the 1980s Albion Sea Gas boom shifted this balance significantly, and Howland quickly became an equal to Northlea due to its liquid natural gas and undersea crude oil extraction. | ||
In doing so, the traditional balance was disturbed as Arcerion's natural gas and oil refinement industry skyrocketed, propelling its late-20th century growth far and above those of its neighbours. Disparity has been matched however with 'Equalization Payments,' a process by which the federal gvoernment takes budgetary surplus and economic profits through corproate taxation of other governorates, and if ratified, applies them to the budget of another governorate. In this instance, the oil and gas companies of Howland, in the Arctic, are able to help fund and support new infrastructure for Foxhey, as with the repairs and reconstruction efforts after the 2008 Telekonese Conflict. In doing so, the Confederate Parliament must have its proposed redistribution approved by the Governorate it is requesting to reallocate funds from, as Arcerion is a Confederacy of provinces, rather than a federally-directed state. | |||
[[File:LNG tanker Arco.jpg|thumb|A liquid natural gas (LNG) tanker leaves Port Northford, Howland Governorate, in the early 2000s. ]] | |||
[[Category: Arcerion]] | [[Category: Arcerion]] | ||
[[Category: Economy]] | [[Category: Economy]] | ||
Foxhey has seen some improvement in its economy as its shipbuilding industry has continued to support maritime commerce in the Malentine Sea by offering cost effective merchant vessels for local Indigenous nations. Similarly, its naval warship facilities have been modernized and it has worked with Burgundie to begin manufacturing small sub-capital naval warships. In Norham, the port of Dunborough has seen a major economic boom in the 2020s with an increase in river traffic and the creation of the Cronan Security and Trade Union, meaning it now is the main rail hub and port-of-entry for a significant amount of goods from Alstin's mainland Cronan possessions. | Foxhey has seen some improvement in its economy as its shipbuilding industry has continued to support maritime commerce in the Malentine Sea by offering cost effective merchant vessels for local Indigenous nations. Similarly, its naval warship facilities have been modernized and it has worked with Burgundie to begin manufacturing small sub-capital naval warships. In Norham, the port of Dunborough has seen a major economic boom in the 2020s with an increase in river traffic and the creation of the Cronan Security and Trade Union, meaning it now is the main rail hub and port-of-entry for a significant amount of goods from Alstin's mainland Cronan possessions. | ||
== Sectors == | == Sectors == | ||
=== Industry === | === Industry === | ||
==== Mining ==== | ==== Mining ==== | ||
As of 2028, Arcerion was the largest producer in Crona of iron ore, bauxite, zinc, and cobalt. Recent discoveries of uranium deposits in the Northumbraeland Mountains have led to an increased mining industry in the Northern portions of Northlea Governorate. Arcerion has smaller mining industries cenetered around nickle, phosphate and certain gemstones (usually found in the [[Innis River Basin]]). Arcerion is also the largest coal exporter in Crona, as its Aileach Mountain mines have produced over 400 million tons annually since the mid-1900s. | |||
In 2026, the mining industry in Arcerion was valued at ₤700 billion billion Arcer Pounds. Megacorporations such as Arcerion Steel Company or the Aileach Mining Group remain the highest proponents of this sector. it accounts for a significant portion of the jobs in Moorden and Northlea Governorates, where the two mountain ranges that are most mined are located. The primary mines are located in vicinity of [[Easthampton]], Arcerion's easternmost town. Arcer iron ore is primarily exported to Sarpedon, which differs from coal which is imported heavily by Audonia and Alshar. Coal accounts for a shrinking percentage of [[Energy in Arcerion|Arcer power generation]] with the construction of new nuclear power plants and renewable energy sources. Arcerion remains Crona's leading coal exporter, despite a League of Nations mandate to combat climate change and global warming through investment in renewable energy sources and divestment of fossil fuels. | |||
The Australian mining corporations Rio Tinto Group and BHP are among the largest in the world. Moorden Mining and Aileach Mining remain two of the largest companies in the Southeastern Cronan Peninsula, with a combined total of ~250,000 employees globally. | |||
==== Manufacturing ==== | ==== Manufacturing ==== | ||
==== Gas and Petroleum ==== | ==== Gas and Petroleum ==== | ||