Alberta Federation of Labour

Alberta Federation of Labour

October 03, 2014 12:21 ET

Expert Report Demonstrates That Refining Bitumen Would Be Profitable in Alberta

Leading Thinkers From Business, Academia and Labour Gather to Hear Why Albertans Can and Should "Think Like Owners"

EDMONTON, ALBERTA--(Marketwired - Oct. 3, 2014) - A new, comprehensive report on the economics of upgrading and refining in Western Canada shows that an integrated upgrader-and-refinery facility would be highly profitable if it were built in Alberta.

The report, entitled "Upgrading Our Future: The Economics of In-Province Upgrading," was prepared by internationally recognized energy expert, Ed Osterwald and commissioned by the Alberta Federation of Labour. It will be made available to the media at a press conference at noon on Monday, Oct. 6, in Room 9-213 of MacEwan's Robbins Health Learning Centre.

"The evidence keeps piling up that it makes economic sense to think like owners of the oil sands, and to keep good jobs here," AFL president Gil McGowan said. "This report shows very clearly that Albertans can get more value out of the resources we own. We can create more jobs and generate more wealth by upgrading and refining our resources, instead of shipping them out of the province in raw form. It just makes sense for us as a province, and for us as a country."

Following the press conference, there will be a series of presentations and discussions featuring McGowan and Osterwald, who is a senior partner with the UK-based Competition Economists Group (CEG). Dozens of guests from government, labour, business and academia will also hear presentations from representatives of two different business groups who are spear-heading Canadian refining proposals, one in Ontario and one in BC.

What: Release of report entitled "Upgrading Our Future: The Economics of In-Province Upgrading
Who: Ed Osterwald, Senior Partner, Competition Economists Group, London, England
When: 12:00 p.m., Monday, October 6, 2014
Where: Room 9-213 of the Robbins Health Learning Centre (2nd Floor)
MacEwan City Centre Campus
10910 - 104 Avenue, Edmonton

"Before he died, former Premier Peter Lougheed urged us to think like owners when planning the development of the oil sands," McGowan said. "Owners don't give away their resources, and they don't give away jobs and profits. The report that we're releasing is, quite literally, a blueprint for the kind of future that Lougheed envisioned for our province."

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