In an effort lure oil and gas investment to the province, the Alberta government will modify conventional oil and natural gas royalty rates, promote more innovation and use of new technologies, and reduce unnecessary red tape while improving coordination of regulatory processes. Currently almost one in seven Albertans are directly or indirectly employed by the energy industry. Changes to improve Alberta’s competitiveness are expected to create 8,000 jobs in 2011-12 and then 13,000 more jobs annually across the economy. Over the next 25 years conventional oil and gas development in Alberta has the potential to add $2.5 trillion in new economic activity.
Read more : Alberta to attract oil & gas investors with regulatory and fiscal changes