Energizing Alberta's Future

The Alberta Government's Provincial Energy Strategy, unveiled on December 11, 2008, charts the future of Alberta's global role in energy conservation and production. The Provincial Energy Strategy can be summarized in three main objectives: clean energy production, wise energy use, and sustained economic prosperity. The Government's commitment to clean energy production will prioritize innovation through investment in technology and research for both renewable energy and fossil fuel. Moreover, the Provincial Energy Strategy addresses the importance of energy conservation in the future of the province, the nation and the world. The Alberta Government has recognized the opportunity for Alberta to serve as a role model in appropriate consumption and initiating change to emphasize efficiency and conservation. Alberta has also committed to sustained economic prosperity through its energy industry. This tenant of the Provincial Energy Strategy focuses on both production and development of energy resources and also on the importance of "value-added" industries. The Strategy commits to expanding the energy industry in Alberta through resource upgrading, reprocessing, manufacturing and innovation.

The Alberta Government has already taken action in implementing the long term Provincial Energy Strategy through the introduction of Bill 28, the Energy Statutes Amendment Act, 2009 which passed its second reading on May 6, 2009. The legislative changes proposed through the Energy Statutes Amendment Act provide a comprehensive update to current energy legislation making minor amendments which will promote sustainable energy development and regulatory efficiency. That Act will amend ten Acts of Legislature and repeal two Acts previously passed.

In addition to these legislative changes, Alberta has committed significant financial support to a green future. Alberta's Innovative Energy Technologies Program will contribute 200 million dollars over a five year period to pilot projects that demonstrate new or innovative technologies to increase environmentally sound recoveries of existing reserves and encourage responsible development of new oil, natural gas and in situ bitumen reserves. On May 14, 2009 the Government of Alberta further strengthened its long term commitment to establishing the Province as a global hub for sustainable energy technology by announcing funding for 9 projects, totaling up to 41.5 million dollars, in addition to the 16 projects already announced.

For additional information and further details, please see our bulletin "Energizing Alberta's Future: Provincial Energy Strategy". We will be reporting on further legislative developments and initiatives by the Alberta Government to implement the Provincial Energy Strategy.