By JEFFREY RUSSELLS/NEWS CHANNEL Alberta’s oil-producing province has been in a steep economic slump and gas-powered bicycles have helped keep its economy humming.
In recent months, Alberta has seen a sharp rise in the number of oil rigs and pipelines in the province.
This month, the province’s oil and gas regulator is set to release its first report on the oil andgas industry since it was created in 2009.
The report will be based on new information about how oil and oil sands production is affected by the carbon tax, which will be introduced in the coming months.
“With oil prices so low and so many pipelines under construction, it’s very important for the province to take a long-term look at how we’re going to recover from the economic downturn,” said Brian Clark, executive director of the Alberta Oil Sands Council.
The industry has seen its share of oil spills, and oil is currently the leading cause of deaths in Alberta.
But the number and type of spills that have been recorded by the Alberta Petroleum Exploration Safety Board, or APESB, have declined significantly since the oil price peaked in 2014.
The number of spills in Alberta has fallen by more than 90 per cent since 2014, according to the Canadian Association of Petroleum Producers, while the number recorded by APESBs increased by nearly 90 per in the same time period.
“The gas powered vehicle is a critical component in Alberta’s recovery from the downturn,” Clark said.
“We know that gas powered vehicles have played a major role in reducing the number, type and location of pipeline spills in the oil sands, and we know that there are a number of positive impacts that we can have on the environment and the environment-related health and safety of the people who live in Alberta.”
Alberta’s carbon tax is expected to raise $1.9 billion in tax revenue over the next two years.
However, it will cost about $3 billion per year in lost revenue.
Clark said there is a significant risk the carbon price will increase the cost of gas and oil to the province, and that this could lead to higher prices for other products.
“This is a long term economic investment and there is an opportunity to take advantage of this opportunity,” Clark added.
“It’s a great way to reduce the carbon footprint of Alberta and the province as a whole.”
Alberta has the highest carbon footprint in Canada, according the federal government.
A recent study by the Institute for Energy Economics and Financial Analysis (IEEFA) estimated that the carbon taxes that have gone into effect in other provinces are costing the province about $4 billion in lost revenues.
A 2016 report by the Canadian Federation of Independent Business (CFIB) also found that the government’s tax increases are causing a significant decline in business investment in Alberta, with only a small amount of new business taking place in the sector.
A majority of the province is in the Alberta economy, but Clark said the carbon levy will help to create more jobs in the industry.
“It will stimulate economic activity and that will create more income,” Clark explained.
“The tax is not going to generate the same amount of revenue as we would have if we were paying the tax in cash.”
While the province has seen an uptick in oil rigs, Clark said that this surge has been mainly due to a decrease in the price of crude oil.
However the province does have more oil fields under development than it did before the oil prices crash in 2014, and Clark said this could help the industry in the long run.
“That increase in exploration and production has really been a key factor in the recent recovery in the economy,” Clark pointed out.
“When the prices were low, we had more exploration and development than we had oil.”
As the price was rising, more and more people were choosing to live in communities that had access to the oil industry.
“If we can increase the amount of jobs in this industry, that will go a long way in the future,” Clark concluded.
The province has also been the target of an increase in cyber attacks.
Earlier this year, the RCMP announced it was investigating cyber threats that targeted government websites and businesses in Alberta and Alberta-Saskatchewan.
The RCMP said in a statement that it is looking into an alleged attack that may have been perpetrated in April of this year.
The investigation is continuing, and there has not been a direct link between the cyber threats and any specific individuals.
However it has been linked to a number individuals that have received malicious emails.
The emails, which are believed to have been sent from China, allegedly asked for personal information from people with whom they have a business relationship.
Clark also said that a group of individuals working on behalf of a group called the Global Citizen Foundation is suspected of using the attacks to collect information about political activists.
The Global Citizen Initiative was founded in 2009 and has been accused of infiltrating the political and social networks of many political groups, including the Progressive Conservative Party of Canada. In