Oil and gas industry in Alberta

Oil and Gas Industry in Alberta

Currently in Alberta, investments in oilsands are increasing. Over the last decade, over $100 billion dollars have been invested in oilsands. The current average investment is $10 billion a year. GDP growth is happening in Alberta but gas is currently a negative factor. In 2008, Alberta had collected gas royalties of $8 billion. This year, we have only collected $1 billion. This results proves that demand for gas has declined over the last few years. The demand of investing in oilsands have definetly improved.

The demand for gas had affected the production in Alberta. Not only is it a problem for the industry, but it is also a problem for Alberta's government. Alberta's government is approving of the Northern Gateway pipeline project but B.C.'s premier is agianst the project. This may be due to the fact that British Columbia is new to to energy production.

Source: http://www.edmontonjournal.com/business/Bullish+Alberta+future/5876331/story.html