Alberta's Economy Could Soar with New Deal: Up to $200 Billion Boost Projected
A new economic deal between Alberta and Canada could benefit the province's economy by up to $200 billion over the next decade, according to modeling work by Lennie Kaplan.
The modeling assumes an increase in Alberta's oil production to around 7.5 million barrels per day (mb/d) by 2035, which is roughly aligned with the Alberta government's roadmap target of 8 mb/d by 2035.
Kaplan notes that private sector investments in projects such as the West Coast Oil Pipeline and brownfield and greenfield oil sands projects are more likely to proceed under a new economic deal with Canada than under an independent Alberta scenario.
The benefits of a new economic deal include up to a $40 billion or 7% boost to Alberta's GDP in 2035, up to 120,000 or 4% increase in Alberta jobs in 2035, and up to $250 billion or 20% boost to cumulative investment over the next decade.