During the recent lag in oil prices it has been suggested that perhaps there is no future for oil in Alberta. This is based on the simple fact that oil production costs more in Alberta than in many other parts of the world (see Saudi Arabia and other OPEC countries). Something that is really missing from this debate is that Alberta may produce more expensive oil, but it also is leading the world in the clean production of oil.
A common term that is often used is “carbon competitive” or the “DE carbonization” of oil. The Millwrights of Alberta are at the leading edge of introducing clean technology into the energy sector. This may ultimately lead to the reemergence of Alberta as an energy super power in the world.
Technology that reduces the carbon footprint of oil is being developed and invented each and every day. Not a day goes by where there isn’t some breakthrough in this regard. It is Millwrights, more than anyone else, that is at the forefront of installing and fitting this new equipment.
While things may seem bleak in Alberta now, it is strongly believed that Alberta will in time again be a leader in oil production. This belief comes firsthand from seeing the clean energy technology being installed. While Alberta may not produce the cheapest oil, it can certainly produce the cheapest clean oil!!
The following article in the financial post is very interesting and discusses the issue: