New study suggests Alberta could see $61B boost from global energy transition
Two Alberta politicians are in Houston this week, selling the province as not only a leader in the oil and gas industry but also in clean energy.
Mayor Jyoti Gondek and Energy Minister Sonya Savage are in the U.S. to take part in the Global Petroleum Conference.
According to the Alberta Energy Transition study released Tuesday — conducted by Delphi Group, Foresight Canada and Cleantech Group — a global energy transition could create 170,000 jobs in the cleantech sector in Alberta and add $61 billion to GDP by 2050.
However, in order to do so, the group stipulates Alberta needs to invest more than $2.1 billion a year in cleantech by 2030, and increasing the commitment to $5.5 billion by 2040.
If Alberta doesn’t invest more than its current level — less than $1 billion annually — the study forecasts the sector will instead only generate 20,000 jobs and $4 billion in GDP by 2050.
The study identifies six sectors with the greatest potential to attract foreign investment including:
- Agriculture;
- Digitalization;
- Carbon capture utilization and storage;
- Electrification;
- Energy efficiency; and,
- Hydrogen production and utilization.
"As the heart of Canada’s energy sector and home to the biggest concentration of Alberta's cleantech companies, Calgary is positioned to be a leader in the race to net-zero," said Calgary Mayor Jyoti Gondek in a press release. "With the commitment from key industry players, we are poised to create jobs, grow the economy and protect the environment."
Mayor Gondek says she will be highlighting Calgary as a centre for energy transitions and her trip stateside comes a month after city council declared a climate emergency.
Minister Savage will be travelling to New Orleans this week for the Energy Council Conference, before returning back to Alberta Sunday.
Calgary is slated to host the Global Petroleum Conference in 2023.
Premier Jason Kenney is scheduled to discuss Alberta’s economic recovery including discussions on the energy sector, climate change and diversification at the Calgary Chamber of Commerce Wednesday.
CTVNews.ca Top Stories
CRA no longer requiring 'bare trust' reporting in 2023 tax return
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
He didn't trust police but sought their help anyway. Two days later, he was dead
Jameek Lowery was among more than 330 Black people who died after police stopped them with tactics that aren’t supposed to be deadly, like physical restraint and use of stun guns, The Associated Press found.
Fluid in eye cells can 'boil' if you watch the eclipse without protection: expert
Millions of people in parts of Eastern and Atlantic Canada will be able to see the rare solar eclipse happening on April 8. But they should only look up if they have proper eye protection, experts say.
Ontario urges mpox testing amid spike in cases
Ontario health officials are urging public health units to test for mpox, the viral disease formerly known as monkeypox, amid a spike of confirmed cases in the province.
More unauthorized products for skin, sexual enhancement, recalled: Here are the recalls of this week
Health Canada and the Canadian Food Inspection Agency recalled various items this week, including torches, beef biltong and unauthorized products related to skin care and sexual enhancement.
Where is the worst place for allergy sufferers in Canada?
The spring allergy season has started early in many parts of Canada, with high levels of pollen in some cities already. Experts weigh in on which areas have it worse so far this season.
Do these exercises for core strength if you can't stomach doing planks
Planks are one of the most effective exercises for strengthening your midsection, as they target all of your major core muscles: the transverse abdominis, rectus abdominis, external obliques and internal obliques. Yet despite the popularity of various 10-minute plank challenges, planking is actually one of the most dreaded core exercises, according to many fitness experts.
Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
'Don't expect any deals:' Expert says stores may not offer steep discounts on post-Easter chocolate
Those looking to snap up cheap treats at their local grocery store next week following the Easter long weekend could be in for a bit of a surprise as the rising cost of cocoa continues to drive up the price of chocolate, one expert says.