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Providing coverage of Alaska and northern Canada's oil and gas industry
April 2011

Vol. 16, No. 15 Week of April 10, 2011

Big prize beckons Alberta

If Alberta can find its way to the forefront in sustainable development and innovation it could generate an extra C$700 billion over the next decade in oil and natural gas, oil sands and mining revenues for the province, said the Alberta Chamber of Resources.

In a task force report, the chamber said the current C$142 billion a year that natural resources contribute to the Alberta gross domestic product — 61.5 percent of the province’s GDP — could grow to C$250 billion by 2020.

It also estimated that about 40 percent of the jobs tied to resource development in the next 25 years would be created outside Alberta.

In that period about 25 million person years of employment linked to oil and gas development would be spread across Canada, including 14 million in Alberta, 7 million in other Western Canadian provinces and 3 million in Central Canada.

The 114-page report makes 16 recommendations to industry and government to ensure measured and responsible development.

Topping that list is the need for visible leadership at the “highest levels” in building a positive, long-term future for the resource and the Canadian economies.

The authors urge resource developers to raise their public profile and do more to gain public confidence.

They said the greater visibility and enhanced credibility requires the industry and government to be more willing to admit that problems exist, address those issues quickly and professionally and deal fairly with everyone affected.

The recommendations also stress the importance of growing “a world-class innovation culture in the resource sectors.”

Task force manager Larry Staples said the challenge for the industry and the Alberta government is to “roll up our sleeves” to ensure the best policies and competitive regimes are in place.

Gord Ball, chamber president and vice president at Syncrude Canada, said the organization has demonstrated over 75 years that “resource development can coexist with environmental stewardship and quality of life. The report provides even more opportunities to enhance that in the future.”

Chamber member companies include the largest oil sands operators — Suncor Energy, Syncrude, Shell Canada, Canadian Natural Resources, Cenovus Energy, ConocoPhillips, Husky Energy, Nexen and Statoil Canada.

—Gary Park






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