Alberta’s government says it has discovered an additional seven billion barrels of oil and plans to sell government-owned bitumen internationally, a move that reflects the province's broader efforts to bolster its fossil fuel industry.
Drew Anderson reports for The Narwhal.
In short:
- Alberta recalculated its oil and gas reserves, adding seven billion barrels of oil and doubling its natural gas reserves, positioning itself as a larger global supplier.
- The government plans to sell bitumen collected in lieu of royalties through the Alberta Petroleum Marketing Commission, potentially exporting two million barrels per month.
- The province continues to resist federal emissions regulations, citing a report suggesting a proposed cap could slow oil production growth and cut jobs.
Key quote:
“Alberta’s global ranking for oil has not changed, however the increase of seven billion additional proved barrels does result in extending the province’s total years of overall oil supply to 137 years.”
— Alberta government statement
Why this matters:
Alberta’s renewed push to expand oil production highlights a deep and persistent tension at the heart of Canada’s climate policy: the struggle between economic reliance on fossil fuels and the federal government’s emissions reduction goals. The province’s decision to sell government-owned bitumen — a dense form of crude oil — could stoke demand for new pipelines, increasing production and carbon emissions at a time when Ottawa is seeking to limit them.
Alberta’s stance raises questions about long-term market stability. Global oil prices remain volatile, subject to geopolitical shifts and fluctuating demand. Meanwhile, competition from renewable energy and electric vehicles is growing, casting uncertainty over future oil profits. Despite these factors, Alberta’s oil sands remain a cornerstone of the province’s economy, and the latest expansion efforts suggest that — for now — the industry has no plans to slow down.
Learn more: Alberta's environmental plan leans on oil with a green twist
