The national interest
Our 2013 report Gaining ground in the oil sands looks at the challenge of developing the Alberta oil sands and explores how 10 obstacles can be turned into opportunities:
For lack of an alternate means of transporting Alberta oil to new markets, producers are restricted to selling that oil to the U.S. market at a discount.
Meanwhile, jurisdictional squabbles and environmental opposition have made it difficult to build new pipelines.
With Canada’s abundance of hydro-electric, solar, wind and oil resources, the interests of environmentalists, governments and business can be aligned with the national interest by helping Canada get fair market value for its oil.
Mining, oil and gas accounts for a large portion of the Canadian economy and between 2000 and 2008, productivity in that sector was negative.
The symbiotic relationship between junior and independent oil producers as well as an improved capacity to maximize the value of Canadian oil exports will help improve productivity.
And the close to $100 billion invested in the oil sands over the past decade has driven both innovation and jobs growth and is expected to bear fruit in the coming years.
To continue to develop this resource endowment, the oil patch has to communicate these benefits to Canadians.
Over the next 25 years, oil sands development is expected to provide $2.1 trillion in economic benefits including tax revenues, supplies and services, and jobs across the country.
Improved energy literacy among consumers will go a long way toward securing Canada’s energy future ensuring national unity. These are goals the oil sands industry should embrace.