Resource development and new markets provide growth

Times Contributor     

 

The Alberta government is hoping to increase Alberta’s prosperity through the development of existing resources and development of new markets. Their philosophy is to open new markets for the province’s resources to get fairer price, and that means encouraging new and better transportation infrastructure, building relationships inside and outside our borders, and advancing world-leading resource stewardship that will protect Alberta’s natural heritage for generations to come. 

“Alberta’s export sector is the backbone of our economy. By expanding and opening new markets, we will maintain Alberta’s strong economy and high quality of life. Our work is building relationships across Canada and around the world that will position Alberta as a leader in responsible resource development and a safe and secure place for global investment,” said Cal Dallas, Minister of International and Intergovernmental Relations in a press release.

To that end the following initiatives are set out in the budget:

• $27 million has been budgeted for international relations 

• $1 million in funding to support three new offices in Brazil, California and Guangzhou, China, to help deliver Alberta’s International Strategy, along with the 13 other international offices.

• Developing and growing markets in new parts of the world for our exported goods and services 

• One new Agriculture and Food Innovation Endowment that will enhance research and develop Alberta’s food-processing industry.

• 1.46 million acres of irrigated land will be maintained with a $21 million infrastructure investment.

• Ongoing efforts to strengthen Alberta’s agriculture sector and open new markets through an average of $1 billion per year in operational funding to Agriculture and Rural Development. 

• a $200 million endowment account within the Alberta Heritage Savings Trust Fund to support annual allotments for agriculture and food innovation, which will position Alberta as a global leader in research, emerging product development and commercialization opportunities.

Aboriginal interests and relationships are also being developed. There is:

• $15 million budgeted for an expanded Aboriginal Consultation Office that will better coordinate and increase the efficiency of consultations on land management and resource development.

• Budget 2014 also reflects the Government of Alberta’s continuing commitment to increasing the participation of Aboriginal people in the social and economic life of the province, with $10 million earmarked for working with First Nations to develop economic opportunities for their people.

There are monies set aside for developing the environmental protections in the resource sector, which makes our oil and gas products safer and more marketable to global purchasers. 

There is $59 million in funding in 2014-15 for the Alberta Environmental Monitoring, Evaluation and Reporting Agency. The Agency will provide open and transparent access to credible scientific data and information on environmental conditions and trends, primarily in the oil sands region.

Also, $245 million is budgeted for the Alberta Energy Regulator—an independent regulatory body responsible for approving energy-related development and enforcing Alberta’s strict operating and reclamation requirements. Once fully operational, the regulator will be fully industry-funded. . It is hoped there will be 2.76 million tonnes fewer greenhouse gas emissions by 2017, thanks to a $504 million investment over three years in two carbon capture and storage projects.