Monday, July 6th32.2°C
25936
25017

Oilsands can help other parts of country if developed safer, faster:leader

EDMONTON - All of Canada should be working to develop Alberta oilsands because the trillions of dollars it can generate can go to help other areas of the country, says an economic leader.

Brad Ferguson, president and CEO of the Edmonton Economic Development Corporation, says northern Alberta could contribute $2.1 trillion to the Canadian economy over the next twenty years, or $105 billion dollars a year.

“It’s an enormous number," Ferguson said Tuesday at the group's annual address.

"It’s a lot of zeros, and it creates a lot of tax dollars. That’s why we need to move it from a city imperative to a national imperative because if we don’t extract the value out of the oilsands, the entire country actually gets harmed through the process."

Ferguson has issued a call to action to find ways to make development of the oilsands cleaner, greener, safer, faster and cheaper, as the rest of the world is demanding.

It’s such a big job, all of Canada should be getting in on it, he added.

“If we use it to activate other parts of the country, everything from other universities and the research that’s going on there, or the excess capacity that’s going on in Trois-Rivières or Hamilton or Oshawa right now, how do we use what we have here to activate the rest of the country?”

Edmonton Mayor Don Iveson agreed.

“If we really want to thrive, if we really want to lead and have a great strong economy into the future, it has to innovate and it has to be around, ‘How do you make things greener? How do you use less energy?’ How do you use less water, so I think it's the right call to action,” he said.

(CHED)

The Canadian Press


Read more Business News

26755


Recent Trending




Today's Market
S&P TSX14593.57-88.82
S&P CDNX663.33-7.25
DJIA17683.58-46.53
Nasdaq4991.94-17.27
S&P 5002068.76-8.02
CDN Dollar0.7899-0.0007
Gold1167.30+4.30
Oil53.38+0.25
Lumber285.00-3.50
Natural Gas2.755-0.001

 
Okanagan Companies
Pacific Safety0.175+0.005
Knighthawk0.010.00
QHR Technologies Inc1.52+0.00
Cantex0.05+0.02
Anavex Life Sciences0.52+0.06
Metalex Ventures0.065-0.010
Russel Metals22.39-0.39
Copper Mountain Mining1.09-0.08
Colorado Resources0.08-0.01
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.035-0.005
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 





FEATURED Property
23123313409 Webber Road
3 bedrooms 2 baths
$448,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_





26376


Member of BC Press Council


25143