OUR OPPORTUNITY TO

in annual government revenue
$ 0 M
New Alberta Jobs
0 +
Greater pipeline capacity
0 b/d

New investments

in Alberta upgraders and refineries

More value

and control of Alberta’s resources

ALBERTA IS AT A CROSSROADS

  • Alberta is facing an unprecedented economic crisis
  • We need bold action to create jobs, build infrastructure and diversify our economy
  • We need a plan for today, to take control of our tomorrow

ALBERTA'S OIL SANDS ARE STILL ONE OF OUR MOST IMPORTANT ECONOMIC ASSETS

2015-2019 Average Annual Investment

But Alberta’s Oil Sands Growth Is At Risk

THE SOLUTION:

FIX BVM TO INCREASE VALUE-ADD INVESTMENTS IN ALBERTA’S OIL

What is the Bitumen Valuation Methodology (BVM)? 
Implemented in 2009, BVM was meant to temporarily set a value on bitumen produced in the oil sands to calculate royalties until a market-based approach could be developed.

BVM has overestimated free-market pricing by up to $4-$8 per barrel costing Alberta upgraders $150 million more per year

We should be refining more of Alberta’s oil!

But the exact opposite has happened.

Since BVM, the percentage of production upgraded within Alberta has decreased significantly.

Goal: Upgrading 50% of Alberta’s raw bitumen by 2032.

Alberta has also lost thousands of jobs to the United States

Since BVM, oil sands investors have invested $18 billion in upgraders and refineries IN THE UNITED STATES, NOT ALBERTA

TWO CRITICAL RECOMMENDATIONS

1. Upgrade Alberta is asking the Alberta Government to adopt the target of upgrading 50% of produced bitumen within the province in the next decade.

  • Aligns with Alberta Innovates goal of upgrading 20% of in situ production and Alberta’s Recovery Plan
  • Set a clear target to help increase Alberta jobs, investment, pipeline capacity and resource value

2. Remove BVM and design a new market-based royalty structure for bitumen upgraded in Alberta that ensures competitiveness and restores investor confidence.

  • Removes the disincentive to invest in Alberta upgraders and refining capacity
  • Creates new customers and markets for Alberta’s oil sands producers

For every barrel upgraded,

1⁄2 a barrel isn’t shipped on a pipeline

We have a choice
to make

TELL PREMIER JASON KENNEY
AND ALBERTA'S CABINET MINISTERS

NOW IS THE TIME TO UPGRADE ALBERTA

The opportunity is now to see Alberta recovers stronger than ever.

Fill out the form below to instantly email the Premier and his Ministers.

Who We Are

We represent a diverse coalition of Alberta businesses, labour organizations, and municipalities seeking to advance Alberta’s economic recovery and the prosperity of our province.