The Canadian Association of Petroleum Producers is urging Albertans to “vote for energy” in the next provincial election, which will take place this spring.
In a press release on Tuesday, the association said Alberta has an opportunity to become one of the most attractive places in the world for oil and natural gas investment, but only if Albertans vote for energy in the next provincial election, and insist political parties adopt policies aimed at enhancing industry’s competitiveness.
“Albertans need to be well-informed and have a clear picture of how we can make our province better before heading into the election. A vote for energy sends the message that Alberta can, and should, be supplying energy to the world,” said Tim McMillan, president and CEO of the association. CAPP represents companies large and small that explore for, develop and produce natural gas and oil throughout Canada.
“Industry has been asking for effective policy changes to make Alberta more competitive. We want to attract global investment to the oil and natural gas sector, but to do so we need greater regulatory certainty along with fiscal and economic policies that allow us to compete globally.”
On Tuesday, CAPP released its Alberta Energy Platform, Oil and Natural Gas Priorities for a Prosperous Alberta. It can be found here.
“A healthy oil and natural gas industry benefits all Albertans and builds on the backbone of our economy. As Albertans head to the polls, the message is that a vote for energy is a vote to build a prosperous future for Alberta,” added McMillan.
“The Alberta Energy Platform is ambitious and achievable. By increasing our competitiveness globally, we can attract the investment we need to create jobs, grow production, and become the world’s fourth-largest oil producer and third-largest natural gas producer.”
According to CAPP:
- the oil and natural gas industry supported more than 20,000 businesses across Alberta in 2015;
- capital investment across Canada’s oil and natural gas industry fell to about $41 billion in 2018, down from $81 billion in 2014;
- capital investment in Canada’s oil sands dropped to about $13 billion in 2018, compared to $34 billion in 2014;
- the International Energy Agency’s World Energy Outlook 2018 projects oil and natural gas will account for 53 per cent of the world’s total energy demand in 2040; global oil demand is projected to increase by 10 per cent and natural gas demand is expected to increase by 43 per cent;
- Canada’s Oil Sands Innovation Alliance (COSIA) member companies have invested $1.4 billion to develop and share 981 distinct environmental technologies.
– Mario Toneguzzi for Calgary’s Business