Tuesday, March 3rd-9.7°C
25405
23829

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

24279


Recent Trending




Today's Market
S&P TSX15264.05+29.71
S&P CDNX704.30-2.43
DJIA18288.63+155.93
Nasdaq5008.096+44.568
S&P 5002117.39+12.89
CDN Dollar0.7994+0.0019
Gold1220.40+7.80
Oil51.59-0.55
Lumber298.40-1.10
Natural Gas2.699-0.035

 
Okanagan Companies
Pacific Safety0.135+0.015
Knighthawk0.010.00
QHR Technologies Inc1.60+0.05
Cantex0.035-0.005
Anavex Life Sciences0.18-0.01
Metalex Ventures0.045+0.01
Russel Metals25.54+0.16
Copper Mountain Mining1.29-0.01
Colorado Resources0.135-0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225-0.01

 



25194

FEATURED Property
22116223420 Lupin Crescent
4 bedrooms 4 baths
$769,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


24681