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As Albertans take to the outdoors to enjoy the exciting beauty and opportunities our province has to offer in the warm summer months, Government and Cabinet Ministers are reflecting on the messages expressed by Albertans over the course of highly successful Cabinet Tours, as well as working hard to ensure our province continues to lead Canada in the economic recovery. |
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Alberta stimulates new energy investment, new technologies
To further energize investment, the Alberta government unveiled initiatives to accelerate new technologies to encourage development of Alberta's vast unconventional and deep resource pools and finalized royalty curves for conventional oil and gas.
Building on the work of government and industry that resulted in the release of Energizing Investment in March, the Emerging Resources and Technologies Initiative modifies the royalty rate for wells that require use of high-cost technologies. This strengthens a producer's ability to invest in additional wells, as well as research and development. Stimulating the application of new technologies in resources that have not been tapped is expected to increase overall production, resulting in increased economic activity and secure long-term royalty revenue from new resource discoveries.
In all, energy development in Alberta represents almost 30 per cent of the province's total gross domestic product and directly or indirectly supports almost one in every seven jobs. Over the next 25 years the Canadian Energy Research Institute forecasts that oil and gas development in Alberta has the potential to add $2.5 trillion in new economic activity. More economic activity means more opportunity and more jobs for Albertans.
The Emerging Resource and Technologies Initiative will be reviewed in 2014 and the Alberta government has committed to providing three years notice to industry at that time if it decides to discontinue the initiative.
The government is also initiating two studies to expand the mapping, geological and resource knowledge of shale gas in Alberta and the enhanced oil recovery potential of conventional oil pools in Alberta. The studies will provide important data to help industry make better-informed investment decisions and help guide future government policy development.
Energizing Alberta's investment attractiveness is part of the Government of Alberta's clear plan to support a strong economic recovery. The Way Forward will ensure Alberta is in a surplus position in three years; uses cash reserves to protect key programs; continues to invest in public infrastructure; and attracts the investment necessary to maintain jobs and prosperity. |
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Regulatory efficiencies improve Alberta's oil and gas competitiveness
Substantive actions to improve Alberta's competitiveness are highlighted in the 90-day progress report of Alberta's Regulatory Enhancement Task Force. The task force report, Enhancing Assurance: The First 90 Days, identifies how the Alberta government is pursuing a comprehensive review of the regulatory system for oil and gas development, and successes that have been achieved on specific enhancements.
The task force reports that ongoing savings in time and cost for both industry and government are being achieved while protecting public safety, conserving resources and ensuring industry complies with Alberta's strict environmental standards.
Alberta's regulatory agencies have reduced time delays and related costs and improved clarity of rules and regulations. Substantial annual financial savings that can be re-invested in the Alberta economy by industry are estimated at between $80 and $170 million. Progress to date includes:
- pilot work towards a system of coordinated compliance inspections;
- successful streamlining of assessment submissions required prior to oil sands developments;
- simplification of sub-surface well spacing requirements;
- improved access to information and regulations;
- clarification and simplification of regulatory publications;
- elimination of obsolete and expired regulatory publications; and
- harmonizing regulations with other provinces.
As part of a comprehensive review, key issues and barriers have been identified and a stakeholder engagement process has begun. Recommendations for a renewed regulatory and policy assurance system will be delivered by the end of 2010.
To view the 90-day progress report, visit www.energy.alberta.ca.
Enhancing the oil and gas regulatory system is part of the Government of Alberta's clear plan to support a strong economic recovery. The Way Forward will ensure Alberta is in a surplus position in three years; uses cash reserves to protect key programs; continues to invest in public infrastructure; and attracts the investment necessary to maintain jobs and prosperity. |
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Premier's Council for Economic Strategy invites Albertans to help shape our future
Albertans have a history of looking ahead, planning for the long term and determining what must be done now to ensure prosperity and success in the future. The Premier's Council for Economic Strategy is continuing that tradition, and inviting Albertans to contribute their thoughts.
The Council, established in July 2009, consists of 12 individuals from around the globe with strong ties to Alberta and Canada, and diverse experience in business, academics, government and not-for-profits. They've been asked by Premier Ed Stelmach to provide their expert views on what actions must be taken in the next few years - not just by government, but by organizations in every sector and by individual Albertans - to ensure that future generations enjoy opportunity and success.
Their conversations to date have led to the development of a discussion paper that poses six questions. Throughout the summer, the council is inviting Albertans to help shape their thinking in these areas:
- What must Alberta do to earn a global reputation as a responsible energy producer and natural resource steward?
- How can we ensure the Alberta of the future has a robust, stable economy and fiscal position?
- What steps can Alberta take to create new wealth through knowledge and innovation?
- How do we ensure we have the healthy, skilled and engaged citizens needed to drive innovation and sustain prosperity?
- How do we ensure Alberta's urban and rural communities are vibrant, supportive and inclusive?
- How can Alberta engage more strategically with the rest of Canada and the world?
To contribute your thoughts on any or all of these topics, please visit the Premier's Council for Economic Strategy.
The Premier's Council for Economic Strategy is an important part of Alberta's long-term plan for prosperity. The Government also has a clear short-term plan for economic recovery; The Way Forward will bring Alberta back into a surplus position in three years by trimming government spending; using cash reserves to protect key programs; continuing to invest in public infrastructure; and ensuring that our province's industries are competitive and continue to attract investment to provide jobs and prosperity. |
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Cabinet Ministers connect with Albertans on key issues during spring tour
After logging thousands of kilometres across the province and attending hundreds of meetings and events, Alberta's Cabinet Ministers heard input directly from Albertans on the key issues facing our province.
During the tour, which was from April 26 through June 1, groups of Ministers met with local elected officials, and business and community groups and individual Albertans in every region of the province. Meetings ranged from informal one-on-one talks and casual conversations in restaurants to structured group sessions.
Members of Cabinet toured local attractions; cultural and recreational facilities; state of the art high-tech facilities for everything from pharmaceuticals to recycling; schools and educational institutions; primary and long-term health care facilities; and agricultural and manufacturing operations.
"Albertans recognize that we fared much better than most jurisdictions during the recent economic downturn," said Premier Stelmach. "They appreciate that that our government did not over-react and slash spending or eliminate the programs Albertans need. That said, we were reminded of the need to keep a tight reign on spending as we emerge from the recession."
"We also heard loud and clear that government must listen more and the act on what we hear," the Premier added. "We're doing just that. The input from this tour will help shape our legislative calendar and the programs and policies we will implement over the next year."
For more information on the spring tour, including the schedule and itineraries; blogs, photos and videos visit: http://alberta.ca/home/1256.cfm. |
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