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.
â€œItâ€™s an enormous number," Ferguson said Tuesday at the group's annual address.
"Itâ€™s a lot of zeros, and it creates a lot of tax dollars. Thatâ€™s why we need to move it from a city imperative to a national imperative because if we donâ€™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.
Itâ€™s such a big job, all of Canada should be getting in on it, he added.
â€œIf we use it to activate other parts of the country, everything from other universities and the research thatâ€™s going on there, or the excess capacity thatâ€™s going on in Trois-RiviÃ¨res or Hamilton or Oshawa right now, how do we use what we have here to activate the rest of the country?â€
Edmonton Mayor Don Iveson agreed.
â€œIf 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, â€˜How do you make things greener? How do you use less energy?â€™ How do you use less water, so I think it's the right call to action,â€ he said.
Read more Business News
- EMS called to PM's homeCanada - 2:47 pm
- Abducted boy saved by songWorld - 1:01 pm
- Medical pot for 2 yr. oldPenticton / S. Okanagan - 12:50 pm
- Dozens speak on land swapPenticton / S. Okanagan - 12:06 pm
|QHR Technologies Inc||1.22||+0.01|
|Anavex Life Sciences||0.38||-0.005|
|Copper Mountain Mining||2.33||-0.05|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||0.00|
Our ability to live beyond our years has nothing to do with medical science; we will all live longer than our physical bodies, each of us will leave behind a personal legacy made up of our deeds, our ...
With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...