JANUARY 22, 2019 – CALGARY, ALBERTA
Alberta has an opportunity to become one of the most attractive places in the world for oil and natural gas investment, but only if Albertans vote for energy in the next provincial election, and insist political parties adopt policies aimed at enhancing industry’s competitiveness, according to The Canadian Association of Petroleum Producers (CAPP). In its Alberta Energy Platform, Oil and Natural Gas Priorities for a Prosperous Alberta, CAPP has developed a set of aspirational goals and policy recommendations focused on four priority areas including market access, regulatory competitiveness, climate policy, and fiscal and economic policy.
In its Energy Platform, CAPP provides clear information about the challenges facing Alberta’s oil and natural gas industry, as well as action-oriented recommendations. CAPP hopes to inform Albertans and political parties about how the province can get back on track and supply energy to the world. The success of the province is largely tied to a strong oil and natural gas industry; a vote for energy moves Alberta toward a more prosperous future.
CAPP’s recommendations advocate for a strong growth scenario for the oil and natural gas industry in Alberta, increasing its competitiveness in the global energy market and attracting investment back to the province. CAPP’s Energy Platform sets goals to ensure the rate of Alberta’s oil and natural gas supply doubles in growth and helps meet global demand; displaces less-responsible sources of supply; doubles investment in Alberta; and, makes Canada the fourth-largest oil producer and third-largest natural gas producer in the world.
In the upcoming provincial election, it’s important all Albertans vote for energy at the ballot box.
CAPP’s Alberta Energy Platform is to inform all Albertans of the concerns and vision of the oil and natural gas business in a manner that is non-partisan and is not advertising. The business of energy is the business of every government of Alberta regardless of its political persuasion. CAPP does not support or oppose any particular registered party or candidate.
CAPP’s Oil and Natural Gas Priorities for a Prosperous Alberta can be found here.
The Canadian Association of Petroleum Producers quotes: Tim McMillan, President and CEO
- “Albertans need to be well-informed and have a clear picture of how we can make our province better before heading into the election. A vote for energy sends the message that Alberta can, and should, be supplying energy to the world.”
- “Industry has been asking for effective policy changes to make Alberta more competitive. We want to attract global investment to the oil and natural gas sector, but to do so we need greater regulatory certainty along with fiscal and economic policies that allow us to compete globally.”
- “A healthy oil and natural gas industry benefits all Albertans and builds on the backbone of our economy. As Albertans head to the polls, the message is that a vote for energy is a vote to build a prosperous future for Alberta.”
- “The Alberta Energy Platform is ambitious and achievable. By increasing our competitiveness globally, we can attract the investment we need to create jobs, grow production, and become the world’s fourth-largest oil producer and third-largest natural gas producer.”
- The oil and natural gas industry supported more than 20,000 businesses across Alberta in 2015.
- Capital investment across Canada’s oil and natural gas industry fell to about $41 billion in 2018, down from $81 billion in 2014.
- Capital investment in Canada’s oil sands dropped to about $13 billion in 2018, compared to $34 billion in 2014.
- The International Energy Agency’s World Energy Outlook 2018, projects oil and natural gas will account for 53 per cent of the world’s total energy demand in 2040. Global oil demand is projected to increase by 10 per cent and natural gas demand is expected to increase by 43 per cent.
- Canada’s oil and natural gas industry is committed to climate leadership and accelerating environmental performance through innovation.
- Canada’s Oil Sands Innovation Alliance (COSIA) member companies have invested $1.4 billion to develop and share 981 distinct environmental technologies.
The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP’s member companies produce about 80 per cent of Canada’s natural gas and oil. CAPP’s associate members provide a wide range of services that support the upstream oil and natural gas industry. Together CAPP’s members and associate members are an important part of a national industry with revenues from oil and natural gas production of about $110 billion a year. CAPP’s mission, on behalf of the Canadian upstream oil and natural gas industry, is to advocate for and enable economic competitiveness and safe, environmentally and socially responsible performance.