What is Alberta's Economic Outlook for 2013?

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(Newswire.net — May 30, 2013) Calgary, AB — Canada is a beautiful country rich with an abundance of natural resources. As one of the largest producers of oil and gas Canada relies heavily on commodities to fuel the economy. Alberta is home to the oil sands and therefore has one of the strongest resource-based economies in Canada. Having the distinction of being Canada’s largest oil and natural gas producer Alberta provides many jobs in the oil and gas industry.

“In 2012, Alberta exports have continued to grow at a strong pace: in the first nine months of 2012 the total value of merchandise exports grew by 4.1% from the same period of 2011 to $71.8 billion. As in other years all of the increase in 2012 can be attributed to higher crude oil exports which rose 16% and now account for more than 60% of Alberta’s goods exports. Crude oil volumes increased by 13% and prices by 3%. Natural gas and gas liquids exports dropped by 41% over the same period mostly as a result of a 40% decline in natural gas prices (gas liquids had much smaller declines); natural gas volumes have dropped by 6.5% in 2012.” notes AlbertaCanada.com website.

With crude oil exports up 16.3% in 2012 continued growth is expected through 2013 but at a slower pace according to Calgary and Alberta’s 2013 economic outlook, “For 2013, there will likely be a decrease in oil demand as well as prices, leading to a pullback in provincial energy sector investment and, correspondingly, slower economic growth. Nonetheless, Alberta will likely continue to be the envy of the country in 2013, with a stable unemployment rate in the 4 per cent range and annual GDP growth on the order of 3.5 to 3.8 per cent.”

To increase economic development and expand growth many are looking towards the proposed Northern Gateway Pipeline project. This project will create jobs and economic advantages for Alberta. 

With safety and environmental issues of prime concern many look for a guarantee of absolute perfection.  A guarantee like this is unrealistic however, looking at their track record pipelines offer the safest way to transport crude oil. Examining Enbridge’s track record shows they have a 99.9 per cent success rate. That’s about as close to perfection as it gets.

“Vice-President of Market Development, Vern Yu said Enbridge is raising the bar internally on pipeline safety. ‘No pipeline spill is acceptable.’” notes the Globe and Mail.

According to the Enbridge website, “We plant a tree for every tree we remove to build new facilities. We will conserve an acre of land for every acre of wilderness we permanently impact. We will generate a kilowatt of renewable energy for every kilowatt our operations consume.”

With a high regard for the environment, communities and individuals companies like Enbridge (TSX:ENB) (NYSE:ENB) look forward to expanded growth. This will mean more jobs and economic growth for Alberta and the oil and gas industry.

Working together oil and gas companies work hard to deliver products and services in a way that is mindful of the stewardship and responsibility they have to the environment. Whether looking for Alberta oil and gas companies or ones located elsewhere Oilfield Directory delivers contact information in an instant. As a timely resource for oilfield contractors’ oil and gas equipment, service and supply is only a click away at oilfielddirectory.com.

Oilfield Directory has listings for oilfield companies, safety consultants, and inspection services including pipe inspection, predictive maintenance, vibration analysis and more.


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