Alberta
The Challenge Of A Diversified Economy
The Challenge Of A Diversified Economy:
Harrie Vredenburg Professor U of C, Suncor Energy Chair
HARRIE VREDENBURG: “…Alberta and a diversified economy is always a question that comes up, and it’s come up time and again throughout the history of Western Canada or the history of Alberta. And the challenge is, of course, that our oil and gas or natural resources here in Alberta are the biggest thing that we have going here.
And so the commodity industries that we’re involved in here do have ups and downs; they are cyclical. And when things are on an up cycle, everything gets sucked over to the commodities industry, and that’s where the wages are highest, that’s where the returns are the best, and everything goes there, and it’s hard to keep anything else going.
And governments over the years have said, oh, we have to diversify, we have to diversify, and attempts to diversify always fall on the rocks when we get an upswing in the commodities economy, so it’s a challenge.
But having said that, it is important to now not only diversify, but to transition the Alberta economy and the Western Canadian economy to a lower carbon economy…”
Producer’s note: What a beautiful shot around 30 seconds into that video of the oil derricks with the orange sunset. It’s such a beautiful sight to see industry. At work, no people, just these solid No people just oil derricks and solidarity pumping away like one of those little toy cranes that you have on your desk that dips its beak in there in your glass of water is just such a beautiful thing to see.
See more stories from WeMaple.
Alberta
They never wanted a pipeline! – Deputy Conservative Leader Melissa Lantsman
From Melissa Lantsman
Turns out the anti-development wing of the Liberal Party never stopped running the show.
Today, we’ll see if the Liberals vote for the pipeline they just finished bragging about.
Spoiler: they won’t. Because with the Liberals, the announcements are real, but the results never are.
Alberta
Premier Smith: Canadians support agreement between Alberta and Ottawa and the major economic opportunities it could unlock for the benefit of all
From Energy Now
By Premier Danielle Smith
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If Canada wants to lead global energy security efforts, build out sovereign AI infrastructure, increase funding to social programs and national defence and expand trade to new markets, we must unleash the full potential of our vast natural resources and embrace our role as a global energy superpower.
The Alberta-Ottawa Energy agreement is the first step in accomplishing all of these critical objectives.
Recent polling shows that a majority of Canadians are supportive of this agreement and the major economic opportunities it could unlock for the benefit of all Canadians.
As a nation we must embrace two important realities: First, global demand for oil is increasing and second, Canada needs to generate more revenue to address its fiscal challenges.
Nations around the world — including Korea, Japan, India, Taiwan and China in Asia as well as various European nations — continue to ask for Canadian energy. We are perfectly positioned to meet those needs and lead global energy security efforts.
Our heavy oil is not only abundant, it’s responsibly developed, geopolitically stable and backed by decades of proven supply.
If we want to pay down our debt, increase funding to social programs and meet our NATO defence spending commitments, then we need to generate more revenue. And the best way to do so is to leverage our vast natural resources.
At today’s prices, Alberta’s proven oil and gas reserves represent trillions in value.
It’s not just a number; it’s a generational opportunity for Alberta and Canada to secure prosperity and invest in the future of our communities. But to unlock the full potential of this resource, we need the infrastructure to match our ambition.
There is one nation-building project that stands above all others in its ability to deliver economic benefits to Canada — a new bitumen pipeline to Asian markets.
The energy agreement signed on Nov. 27 includes a clear path to the construction of a one-million-plus barrel-per-day bitumen pipeline, with Indigenous co-ownership, that can ensure our province and country are no longer dependent on just one customer to buy our most valuable resource.
Indigenous co-ownership also provide millions in revenue to communities along the route of the project to the northwest coast, contributing toward long-lasting prosperity for their people.
The agreement also recognizes that we can increase oil and gas production while reducing our emissions.
The removal of the oil and gas emissions cap will allow our energy producers to grow and thrive again and the suspension of the federal net-zero power regulations in Alberta will open to doors to major AI data-centre investment.
It also means that Alberta will be a world leader in the development and implementation of emissions-reduction infrastructure — particularly in carbon capture utilization and storage.
The agreement will see Alberta work together with our federal partners and the Pathways companies to commence and complete the world’s largest carbon capture, utilization and storage infrastructure project.
This would make Alberta heavy oil the lowest intensity barrel on the market and displace millions of barrels of heavier-emitting fuels around the globe.
We’re sending a clear message to investors across the world: Alberta and Canada are leaders, not just in oil and gas, but in the innovation and technologies that are cutting per barrel emissions even as we ramp up production.
Where we are going — and where we intend to go with more frequency — is east, west, north and south, across oceans and around the globe. We have the energy other countries need, and will continue to need, for decades to come.
However, this agreement is just the first step in this journey. There is much hard work ahead of us. Trust must be built and earned in this partnership as we move through the next steps of this process.
But it’s very encouraging that Prime Minister Mark Carney has made it clear he is willing to work with Alberta’s government to accomplish our shared goal of making Canada an energy superpower.
That is something we have not seen from a Canadian prime minister in more than a decade.
Together, in good faith, Alberta and Ottawa have taken the first step towards making Canada a global energy superpower for benefit of all Canadians.
Danielle Smith is the Premier of Alberta
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