Alberta Executives Warn Against Potential Separation Costs

Alberta executives are urging their business community to speak out against the province's potential separation from Canada, citing billions of dollars in economic risks and uncertainty for investors.

A report by the University of Calgary's School of Public Policy estimates that separation could cost up to $170 billion over the first five years. Executives like Alex Pourbaix, board chair of Cenovus Energy Inc., say they are concerned about the impact on investment in Alberta and Canada as a whole.

Many executives have been hesitant to take a public stance on the issue, fearing backlash from employees or customers who may support separation. However, some have spoken out in recent days, including Imperial Oil Ltd. CEO John Whelan and WestJet Group CEO Alexis von Hoensbroech.

Von Hoensbroech pointed to the Brexit experience in Europe as an example of the potential costs of creating new barriers between economies. 'Having witnessed the Brexit experience firsthand in Europe, I know that creating new barriers between economies can carry significant costs,' he said.