Alberta is a global energy leader with a diverse resource portfolio that includes oil, oil sands, natural gas, minerals, and coal, as well as unconventional resources including shale gas, coal bed methane and tight oil and gas. Alberta also supports renewable resources and energy processing.
Albertans own 81% of the province's oil, natural gas and other mineral resources. The remaining 19% are 'freehold' mineral rights owned by the federal government on behalf of First Nations or in National Parks, and by individuals and companies. Alberta Energy is responsible for ensuring the development of Alberta’s resources to the benefit of all Albertans.
Alberta also supports;
- further the development of enhanced recovery technologies
- alternate sources of energy (bioenergy)
- emissions reduction efforts (Renewable Fuel Standards)
- maintaining a competitive royalty and regulatory framework necessary to attract capital investment from world markets.
- Other Initiatives
As the engine of Alberta's economy, energy revenues account for almost a third of the revenue allocated under Alberta's provincial budget and just over half of the value of our province's total exports. Many Albertans contribute every day to an energy sector that yields benefits year after year to all who live in our province. The Energy sector employs - directly and indirectly - nearly one in every six workers in Alberta. Encouraging investment in Alberta is a priority to achieve the goals all Albertans share.
Royalty revenue is reported every September.
As a global leader in technology and research on oil sands and heavy oil, Alberta is at the forefront of technologies such as gasification, upgrading, carbon capture and storage, advanced recovery, water use, tailings management and alternative energy. This unique world expertise has fostered Alberta's commitment to the "science of solutions" related to all areas of energy and the environment. As a result, our researchers, entrepreneurs, and businesses are setting global standards for reducing environmental impacts and supporting the development of greener communities. Alberta Innovates is a catalyst for developing innovative, integrated ways to convert our natural resources into market-ready, ecologically responsible energy.