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
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
BREAKING Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.
All Alberta wildfires to date in 2024 believed to be human-caused: province
There are 63 wildfires burning in Alberta's forest protection area as of Wednesday morning and seven mutual aid fires, including one in the Municipal District of Peace.