Alberta Mirror

Thursday, January 27, 2022

Global energy development could be a $61B chance for Alberta

Key takeaways: 

  • Alberta must spend almost $5.5 billion in cleantech by 2040 to gain on the chance, the research tells.
  • Plumber Sean Mahedy places a pneumatic line at Calgary-based Carbon Engineering’s leading through air capture plant in Squamish, B.C., in 2015.
  • The plant removes carbon dioxide straight from atmospheric air in a closed-loop automated method.

Investing in Global Energy Transition can lead to huge profits ahead: 

The global energy development could generate 170,000 jobs in Alberta and provide $61 billion to the region’s GDP by 2050, according to a fresh study issued Tuesday by regional economic development groups.

The record — approved by Calgary Economic Development and Global Edmonton — recommends the global hunt of weather goals and net-zero greenhouse gas discharges by 2050 could be a significant blessing for the region that still values conventional oil and gas as its No. 1 industry. But the release also hints that if Alberta remains on a “business as usual path,” it will be on route to a substantially lower 20,000 new jobs and just $4 billion in GDP from clean technology causes by 2050. Source – cbc.ca

Also read: Frosty rain alert declared for Edmonton province, sections of northern Alberta

Canada can get $61B in returns if they invest in Global Energy Transition

The research — led by Delphi Group, Foresight Canada and Cleantech Group — recommends the region has the chance to leverage its current assets and infrastructure, as well as its extremely educated workforce, to gain on cleantech opportunities such as carbon capture and storage, hydrogen generation and electrification.

“Alberta’s proven track record of using collaboration, capital deployment and resource mobilization to accomplish large-scale transformational projects should not be underestimated,” said the report’s writers. Source – cbc.ca “These strengths set the region up to triumphantly take on its next great challenge, the energy transition.” Source – cbc.ca

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