Bitumen means big bucks for the province of Alberta
Wild Rose Country has over a trillion reasons to love oil sands development
The oil sands have replaced natural gas as Alberta’s revenue-generating star. And with 170 billion barrels of reserves ready to be exploited, the sector should be stuffing Alberta’s treasury with petrodollars for years to come. According to a Canadian Energy Research Institute forecast, Alberta could collect almost $1.2 trillion in royalties from the oil sands industry between 2006 and 2044 and annual royalties collected will jump from $3.29 billion in 2010 to $67.8 billion in 2044. With the oil sands supplying that kind of cash infusion, maybe the province won’t have to lay off so many teachers in the years to come.