The question is: Has the Ontario budget laid the groundwork for some exciting things from the Federal budget on Thursday?

2012 Ontario Budget

1st reference on page 42

Northern Ontario and the Ring of Fire

Resource-based industries are a vital part of a strong northern economy.
The discovery of significant mineral deposits in the Ring of Fire, an area
in Ontario’s Far North, presents major opportunities. The government
has a plan in place to guide resulting investments and to help diversify
the northern economy.

Northern Ontario will benefit from mining the mineral deposits in the
Ring of Fire area, which will help create jobs and better position the
northern economy and Aboriginal communities for future growth.
Proposed mine developments currently under consideration in the Ring of
Fire are expected to create more than 1,500 permanent jobs once the
mines are in full production. Additional jobs will be created in the mining
service and supply sector.

The government is building partnerships with northern Ontarians,
Aboriginal communities and industry to maximize the benefits and
overcome challenges associated with developing the Ring of Fire.
In addition, the government is proposing legislation that would facilitate
the implementation of a 1995 land claim settlement agreement by
providing that certain lands held in trust for the Nipissing First Nation
be deemed tax exempt under the Assessment Act.

2nd Reference on page 207

 The federal government should enhance its support for Ontario’s clean
energy sector, the Ring of Fire and an east-west electricity
transmission grid.

3rd Reference on page 215

Chapter III: Federal–Provincial Relations 215

Building the Economy — Supporting Jobs for Ontario Families

Support for Clean Energy and the Ring of Fire

Ontario is very proud of the work being done by Canadians in every
province and territory across the country to strengthen the
national economy.

Continued economic growth is important to all Canadians. In other
provinces, the federal government supports the oil and gas industries and
energy sector with investments in technological developments such as
carbon capture and storage and through loan guarantees. Energy and
growth opportunities exist in Ontario as well and also merit federal
investment. Ontario has become a North American leader in clean
energy — with 50,000 jobs being created province-wide. Ontario also
has an unparalleled opportunity to develop and mine the Ring of Fire,
bringing jobs and economic development to the north. (See Chapter I:
Transforming Public Services for more details.)

Ontario is also encouraging the federal government to provide enhanced
financial support and the appropriate regulatory environment for an eastwest
transmission grid, including increasing Ontario’s interconnections,
to allow for transmission of clean, emissions-free electricity across
provincial jurisdictions. Greater regional integration of electricity
grids would provide greater incentives for the development of new,
larger-scale renewable projects.

See: http://beta.images.theglobeandmail.com/archive/01389/Read_the_2012_Onta_1389195a.pdf