This statement is attributable to Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce
“The Calgary Chamber of Commerce welcomes the Government of Alberta’s new Oil Sands Growth Program and the significant opportunity it creates to expand oil sands production and attract investment to Alberta’s energy sector. The program is an important step toward propelling Alberta’s economy forward, attracting the investment capital needed to advance major projects and strengthening our competitive edge.
“Calgary’s energy sector is a key driver of economic growth, investment and job creation across Alberta and Canada. At a time when Alberta is competing globally for investment capital, maintaining a stable and predictable policy environment is critical. By providing a 10-year royalty framework for new and expanding oil sands projects, the program will give industry greater certainty to make significant, long-term capital investments, supporting increased production and positioning Alberta to capitalize on expanded access to global markets. This fits with the federal government’s legislative initiatives to support significant development in Canada’s resource sector across the country.
“As Alberta works toward doubling oil production to eight million barrels per day by 2040, we’re pleased to see a focus on this certainty needed to unlock investment, attracting both labour and capital. The Calgary Chamber looks forward to working closely with both the province and industry to ensure this opportunity translates into tangible long-term growth for Alberta’s energy sector.”
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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