Tuesday, August 4th30.1°C
26264
26015

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

24947


Recent Trending




Today's Market
S&P TSX14491.05+22.32
S&P CDNX589.88-4.43
DJIA17550.69-47.51
Nasdaq5105.55-9.84
S&P 5002093.32-4.72
CDN Dollar0.7580-0.0003
Gold1086.50-4.20
Oil46.27+0.14
Lumber258.60-0.10
Natural Gas2.839-0.002

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.40-0.02
Cantex0.04+0.00
Anavex Life Sciences1.47+0.33
Metalex Ventures0.05+0.00
Russel Metals19.39-0.01
Copper Mountain Mining0.80+0.01
Colorado Resources0.085+0.020
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.08-0.02
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
22152244835 Paradise Valley Drive
$89,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_





26376


Member of BC Press Council


26706