Oilsand Economic Impact

 

 
In a report released Oct 24, The Conference Board of Canada (CBoC) has quantified the economic benefit of Canada’s oilsands activity and the data that was gathered may have a profound effect on how the rest of the country perceives one of our most lucrative resources. Based on the results of their study, the think tank estimates that up to a third of all revenue generated by the massive energy projects will be enjoyed by provinces beyond Alberta, primarily in neighboring BC and in the manufacturing heartland of Ontario. Although those two regions will feel the greatest impact, the report outlined how Alberta’s oilsands operations will create industrial activity in every other province, as well. This is no chump change they are talking about, either, as the board is anticipating no less than $364 billion worth of industry emanating from the economic powerhouse over the next twenty-five years. The federal government, too, will be a major monetary winner; expected to reap almost $80 billion in tax revenues from corporate and personal taxes as a result of the operations.
The information gleaned from the CBoC’s research is not some public relations gambit supported by interest groups from either the energy sector or the environmental lobby, it must be noted. The CCoB is a not-for-profit, politically independent applied research organization. They are not a lobby group or an arm of the government. All their funding comes from fees charged to access their data and for other organizational services they offer. In other words, the information released by the group can be trusted as objective and free of political agendas or special interests.
The report entitled “Fuel for Thought: The Economic Benefit of Oil Sands Investment for Canada’s Regions,” was released in Edmonton last week, at The National Buyer/Seller Forum. The information contained in the study made immediate shockwaves throughout the country as it called into question a number of negative beliefs about the oilsands that are being pushed by environmental lobbyists, manufacturing sectors in other provinces and politicians such as Thomas Mulcair. The NDP leader has accused oilsands activity of artificially inflating our dollar, making Ontario manufacturing concerns less competitive on the world market with no compensation. In contrast, the CCB findings show that Ontario manufacturing will be the recipient of almost 15% of the economic wealth generated. This amounts to a healthy $54.6 billion dollars of productivity, or over $2 billion per year over the 25 year forecast.
The report follows another independent think tank’s study in 2009 examining the environmental impacts of oilsands operations, which was published by the well-regarded, US-based IHF group called “IHF CERA”.
This study tackled the environmental impacts of the oilsands which, although obviously not quite a clean as the benchmark West Texas crude, was found to be in the middle of the pack as far as producing a carbon footprint and was much less damaging, from a greenhouse gas (GHG) perspective than Venezuelan partially upgraded, Nigerian light crude or even the US’s own heavy oil upgrader products. The American operation situated, ironically, in ecologically-conscious California, produces twice the carbon emissions of its Canadian counterpart. In fact, the carbon footprint of the Alberta oilsands is only a couple of decimal points off of the average of all eight American oil-based major energy sources, according the CERA study.
Slowly but surely, even as Canadian oilsands companies find better, and more environmentally sensitive technologies to release the massive pool of energy that is estimated to be the third largest oil reserve in the world, attitudes are beginning to change. People are starting to see that the industry isn’t peopled by money-grubbing oil barons but by Albertans of every age, religion, and political stripe; our friends, relatives and often ourselves. 140,000 of us, in fact, work at jobs directly involved in the oil extraction business, which spawn further economic spinoffs when we spend our hard-earned paycheques. Due to reports such as the CBoC’s, the IHF’s and a number of others coming to light within the last five years, the public relations tide is turning. People are beginning to accept that the oilpatch isn’t evil and that many of those opposed to the development often have their own agendas not related to environmental concerns or national economics.
For Albertans buffeted by the harsh winds of ignorance-based public opinion, CBoC’s figures are the calm within the storm.
 
More Stories:
  • Karunia: Warm Hearts, Warm Home     February is Psychology Awareness month and Heart Health Awareness month. To celebrate, Karunia Counselling of Leduc is offering free workshops for the community. Karunia Counselling is a small, local team of psychologists ...
  • Come On Over To The Wildside     The WildSide will be hosting a Free Premier Screening and Mixer at the Millet Agriplex, Saturday January 31st with the doors opening at 6:00 p.m. and you’re invited.      Join the cast and production crew including Max ...
  • Who Was Moberg?    Several years ago Leduc honoured Arthur Moberg by naming a neighbourhood park after him. The park sits along 46 Street sandwiched between 54 Avenue and the beginning of Leduc’s Industrial Park. Today the name remains but ...
  • Highlights Of Wetaskiwin Social Needs Assessment      “The City of Wetaskiwin initiated a Community Social Needs Assessment to help guide planning decisions about community based social services.” The purpose of the Social Needs study conducted by consulting group, RC Strategies, ...
  • Great News For EIA And A Special Guest     The region is abuzz. The plans have been in the works for some time. Construction is underway creating a flurry of activity. Concerns are expressed, excitement and vision prevailing. The main question remains, “What about ...
  • 70 Years For AG Service Boards     Celebrating 70 years, Alberta’s Agriculture Service Board gathered nearly 500 representatives in West Edmonton January 20th-24th to network, discuss and analyze the state of our provincial agriculture and its complex ...
  • Ascending Author In Leduc Samara Paine Pipestone Flyer        Tom Dirsa, a former coach and educator as well as a current free-lance reporter for the Pipestone Flyer, has recently released his first written children’s book, Sweaty Eyes, based on one ...
  • Finding Balance     People often ask how I balance my life and each time I chuckle because I never really put much thought into it. I have always done whatever it is I wanted to do. Just this past year I was in the middle of starting a business; ...
  • Sponsors Kick Off Leaders of Tomorrow     The Leaders of Tomorrow Awards Program held its Kick Off and major sponsors recognition in preparation for its 20th Awards Program. Individuals and groups are invited to nominate for an award  young people who are making ...
  • City Of Leduc Pushes For RCMP To Ensure Funded Positions Remain Staffed The City of Leduc wants the positions they’ve paid for filled with police officers. At the Jan. 12 council meeting, councilors decided to submit a resolution supporting the Federation of Canadian Municipalities own resolution ...
  • Black Gold Quilt Patch Guild Presented With Plaque Submitted by June Aponiuk, Secretary Black Gold Quilt Patch Guild,  Leduc, AB       As with many quilt guilds, we are happy to provide quilts where there is a need. In our case, the majority of quilts are given to the Children’s ...
  • Telford Place Continues To Grow When 29-year-old Robert Telford decided to put down roots along a creek just west of a lake, he was aware of the plans of a railroad coming through the area as tracks were being laid just south of his location. It is doubtful ...
  • Kicking Horse Industrial Park A meeting was held in Millet on Wednesday evening, January 14, 2015 at the Millet Agriplex to notify and field questions from tax ratepayers and interested parties in conjunction with the newest industrial park in Central ...
  • Millet Curling Club Holds Sturling     The Millet Curling Club held a Sturling with 16 teams participating on January 16 and 17. The next Sturling is scheduled for March 6 & 7. If you would like to register or receive more information on the upcoming event ...
  • Pink T-Shirt Day Gearing Up     Up until 2011, males would not be caught dead wearing pink as it was a noted symbol of femininity. That has changed. Today it is common to see even the extreme ‘jocks’ like hockey players and cowboys flexing their muscles ...
  • City Of Leduc Growing Younger Leduc’s 2014 census report was released last week and it shows a 4.9 per increase in population, down slightly from the 6.9 per cent the previous year. However, it showed an increase in the number of people between 20 and ...
  • Waterworks Theatre Presents Another Entertaining Evening Wetaskiwin Waterworks Theatre Director Edlon Roth invites the residents of Wetaskiwin and surrounding region to an evening of fun and laughter with the production of ‘Fishing for Frank’. “The production is a display of close ...
  • WCHS Awards For Excellent Students Wetaskiwin Composite High School students have the opportunity to earn a wide range of awards and scholarships from a variety of sources including the Province and the community. Each year there is one student who stands ...
  • Rosebrier 4H Beef Club Happy New Year to everyone. We have been busy the last while. Back in November we were able to work together as a club and make up 61 Operation Christmas Shoe Boxes. It sure felt good to be able to help others. Coming up ...
  • Leduc Food Bank Benefits From DPA Steve Greene (food bank board member) holds a cheque with Laura Tillack on the left (Downtown Progress Association (DPA) coordinator) & Debbie Charanduk on the right (DPA chair) for the Santa Claus Parade after party and ...




 
  • Leduc Radio Ad
  • Industrial Netmedia
  • Industrial Netmedia
  • Industrial Netmedia