Alberta’s transition to lower-carbon energy will require billions of dollars in outside capital, and members of the business community worry that growing talk of sovereignty in political circles jeopardizes that investment.
“If we want to solve some of the grand challenges we all face, it will be through collaboration, not through putting up walls,” said Deborah Yedlin, president of the Calgary Chamber of Commerce. “Capital goes to where it can get the best return, and that includes whether there are barriers, real or perceived, to investment.
Jason Kenney, who steps down as Premier when a new UCP leader is chosen in October, has often railed against Ottawa, and last year his government held a referendum on whether to opt out of the federal equalization program and waged court fights against carbon levies. He contends that federal approvals for oil pipeline proposals became too onerous, and that has limited the industry’s ability to export crude to the United States and abroad.
Many business leaders are taking a different tack. In late June, New West Public Affairs, a firm founded by former Conservative cabinet minister Monte Solberg, held a conference in Calgary called Alberta Relaunch 2022. Speakers debated how the province’s energy wealth could be directed to building up leadership in a host of technologies that could help meet global ambitions to get to net-zero carbon emissions by 2050.
One bone of contention today is the government’s latest proposal to impose either a cap-and-trade system or higher carbon price on large emitters as a way to reduce emissions from oil and gas by 2030, a key part of achieving the national target.
As opposed to the carbon tax and the constant vilification of the industry, which actually drove billions of investment away from Alberta. Nothing to lose at this point with the Sovereignty Act. Full steam ahead.
acoyne Tragic if it were not to happen. Which businesses are you talking about? Coal? Oil/Gas? Farmers? Plastics?
acoyne G&M needs to worry about keeping up their propaganda promises and not business in Alberta
If Alberta separated from Canada it would be one of the richest countries in the world
The liberalndp are worried about Alberta sovereignty because investors will invest in oil & gas instead of crushing the industry like they're doing. Sovereignty here we come!
Roly Poly JKenney's been working the back channels against ABDanielleSmith has he? It's so typical of the federal corruption bag he comes from so it's not like that would be a revelation.
It should make it better.
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