Alberta is a global energy leader with a diverse resource portfolio which includes coal, electricity, minerals, natural gas, conventional oil, petrochemicals, renewable and Alberta’s oil sands.
Albertans own 81% of the province's oil, natural gas and other mineral resources. The remaining 19% are 'freehold' mineral rights owned by the federal government on behalf of First Nations or in National Parks, and by individuals and companies. Alberta Energy is responsible for ensuring the development of Alberta’s resources to the benefit of all Albertans.
Alberta also supports;
- further the development of enhanced recovery technologies
- alternate sources of energy (bioenergy)
- emissions reduction efforts (Renewable Fuel Standards)
- maintaining a competitive royalty and regulatory framework necessary to attract capital investment from world markets.
- Other Initiatives
As the engine of Alberta's economy, energy revenues account for almost a third of the revenue allocated under Alberta's provincial budget and just over half of the value of our province's total exports. Many Albertans contribute every day to an energy sector that yields benefits year after year to all who live in our province. The Energy sector employs - directly and indirectly - nearly one in every six workers in Alberta.
The department collected over $11.9 billion in non-renewable resource revenues for the 2008/09 fiscal year. The Canadian Association of Petroleum Producers(CAPP) estimates that Oil and Gas investment spending in Canada was $34 billion in 2009 and $40 billion is forecast for 2010. Of the 40 billion estimated for 2010, $25 billion will be invested in conventional oil and gas development and over $12 billion in oil sands development. A report by CERI in 2009 estimates that over a 25 year period the Canadian Petroleum Industry Economic benefit (GDP) translates to 3.5 trillion for Canada and 2.5 trillion for Alberta. Canadian employment generated is 24.5 million person years over a 25 year period, that means 14.1 million person years over a 25 year period in Alberta. Encouraging investment in Alberta is a priority for government to achieve the goals all Albertans share.
As a global leader in technology and research on oil sands and heavy oil, Alberta is at the forefront of technologies such as gasification, upgrading, carbon capture and storage, advanced recovery, water use, tailings management and alternative energy. This unique world expertise has fostered Alberta's commitment to the "science of solutions" related to all areas of energy and the environment. As a result, our researchers, entrepreneurs, and businesses are setting global standards for reducing environmental impacts and supporting the development of greener communities. Alberta Innovates - Energy and Environment Solutions is a dynamic catalyst for developing innovative, integrated ways to convert our natural resources into market-ready, ecologically responsible energy.