Alberta is blessed with an abundance of natural resources that have formed the foundation of its economy. The province's diverse energy resource portfolio includes: natural gas, conventional oil, coal, minerals and the famous Alberta oil sands.
Alberta has overcome many energy industry challenges and has earned a reputation as a global leader in ingenuity and innovation. Alberta's reserves are developed in some of the most challenging and varied conditions on the globe, and this highly competitive industry is skilled in dealing with conditions, including: temperature extremes, permafrost and vast distances.
Drawing on a highly skilled workforce, research and technological innovations are enhancing the sustainable development of our energy resources, improving operational efficiencies, enhancing project competitiveness and responsibly managing the environment.
Alberta Chamber of Resources' Task Force on Resource Development and the Economy (2011)
The Alberta Chamber of Resources'
Task Force Report on Resource Development + the Economy
outlines the importance of the resource
sector to the economies of Alberta and Canada. As principles of orderly and responsible development are followed, environmental
sustainability and economic prosperity can be balanced for the benefit of present and future generations. The report presents strategies and recommendations to achieve this goal. ACR Task Force Report 2011
On November 9, 2011 members of the task force met with Bioeconomy Alberta team to give a presentation about the report.
View presentation: ACR Task Force AI BIO Presentation 2011
- Natural resources account for over half of all Canadian exports of goods and services
- Key driver of value of Canadian dollar and TSX
- Account for about one quarter of all business profits
- Proportion of natural resources in the value of all shares traded on the TSX has increased (20% in 2003 to over 50% in 2008)
- Share in tangible national wealth has increased to over one quarter
- Natural resources GDP is approximately $150B/year
- Oil and gas sector alone paid almost $60B to Canadian governments in 2007
- Net resource wealth per capita in 2008 = $104K vs. total per capita wealth of $324K
- Share of natural resources in total provincial wealth is rising (22% in 1993 to 35% in 2008)
- Direct plus indirect contributions of the resource sector to GDP = 58% in 2008 (50% accounted for by oil and gas)
- Direct plus indirect contributions to employment = 48% in 2008 (42% accounted for by oil and gas)
- Taking into account the indirect linkages, resource sectors account for over half of all provincial government revenues
Following the presentation on Nomber 9, 2011, the following task force members offered insights:
Leon Zupan, Vice President of Alberta Chamber of Resources, Chair of the Alberta Chamber of Resources Task Force on Resource Development and the Economy, Senior Vice President of Operations for Enbridge Pipelines
Bob Winship, Business Development Manager, Canadian Timberlands, Weyehaeuser Company
Last updated: Friday, January 15, 2016