For many decades, Alberta’s economic prosperity has relied on precarious and volatile fossil fuel energy markets. Now, the world is moving away from fossil fuels and new industries are emerging to take their place. Experts say global demand for oil will peak as soon as 2025.
Despite the global disruption to energy systems, our government has failed to respond and prepare for this change. Our energy workers have the skills to compete, but we need to start re-tooling our economy now – or we’ll be left behind.
There is a better way. Together, we can build a thriving, diversified, and resilient economy that provides the stability, opportunity, and quality of life that Albertans need to build a better future here.
- Re-tool our economy to transition our oil and gas resources from fuel production to manufacturing materials like carbon fibre and recyclable plastics.
- Expand public ownership and the use of innovative financing tools like windfall taxes to ensure oil and gas development advances the interests of hardworking Albertans.
- Invest in a large-scale increase in our clean power generation to feed growing demand for low-cost electricity and attract new industries.
- Ensure all publicly-supported projects result in tangible benefits for local workers and communities through Community Benefit Agreements.
- Adopt strong labour market policies that protect workers from wage reductions and job losses through the transition.
Rather than continuing down the path of political hostility and polarization, we can work together for an Alberta that’s ready and able to compete in the brave new energy world. According to AFL modelling, the new energy economy can create thousands of new jobs and usher in an era of prosperity like we’ve never seen before.