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 With a deep and diverse resource portfolio which includes coal, electricity, minerals, natural gas, conventional oil, petrochemicals, resource land access, tenure, and Alberta’s oil sands—the world’s second-largest hydrocarbon reserve - Alberta is increasingly being recognized as a global energy leader.
Albertans own 81 per cent of the province's oil, natural gas and other mineral resources and the Government of Alberta excels in managing the development and use of these resources in a responsible and appropriate manner to the benefit of all Albertans. Environmental management, financial management, research and technology and other areas of expertise combine to leverage energy resources to their full value in attracting and developing new business and expertise.
The Department of Energy (DOE) is responsible for ensuring the development of Alberta’s resources are appropriate, environmentally sustainable, and in the public interest. To accomplish this goal, Alberta also supports further the development of enhanced recovery technologies, alternate sources of energy, improved energy efficiencies, and emissions reductions technologies, while maintaining a competitive royalty and regulatory framework necessary to attract capital investment from world markets.
As the engine of Alberta's economy, energy revenues accounted for thirty-three percent 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, which translates into more than 275,000 jobs.
The department collected almost $15 billion in non-renewable resource revenues this year. Oil and gas industry investment in Alberta is strong. The Canadian Association of Petroleum Producers (CAPP) estimates in Alberta this year investment will reach over $30 billion, with over $20 billion invested in conventional oil and gas development and over $10 billion in oil sands development. Sustaining these revenues is a priority for government. The citizens of this province rely on those royalties to contribute to the high quality of life we enjoy.
Investment in research has played a major role in creating the prosperous Alberta that we know today and it is also an investment in our future. The Government of Alberta is committed to working in partnership with Alberta’s universities, businesses and industry, as well as other jurisdictions, to support and nurture energy research activities.
Last reviewed: March 8, 2006
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