PSAC encouraged by 2021 Alberta provincial budget
The Petroleum Services Association of Canada (PSAC) has expressed its appreciation that the Government of Alberta is focused on measures to address the healthcare challenges of the ongoing pandemic and its impacts on the economy. The budget is also focused on ensuring that Alberta has a competitive advantage for business, capital investment and jobs to aid in economic recovery and growth.
Elizabeth Aquin, Interim President and CEO of PSAC says, "It is reassuring to hear that the Alberta government is looking to economic recovery and continued diversification. The oil and gas sector is recognized for its bedrock contributions to the economy, innovation, technology development, high-tech careers, and ongoing improved environmental performance. Furthermore, our sector's expertise will play an important role in the development of other sources of energy like geothermal and hydrogen."
The oil and natural gas sector in Alberta represents 30 percent of all economic activity, provides 415,000 jobs, supports 20,000 businesses and has paid over $7.5 billion in royalties and taxes*.
January McKee, Chair of PSAC and President of AMGAS, agreed, saying, "A focus on competitiveness along with advocating for federal policies that will restore investor confidence is crucial for capital investment to fully realize the benefits that our industry can offer. The reduction of corporate taxes and red tape demonstrate that this government understands what is needed."
"PSAC has appreciated the support for our advocacy for mechanisms to close orphan and inactive wells as well as the government's support for pipeline infrastructure," added Aquin. "We look forward to working with government on sector specific measures and policies that support this vital sector to ensure we continue to contribute the Alberta's economic recovery and growth.