Fraser Institute Report Confirms NDP Energy Policies Will Have Damaging Long Term Effects on Alberta’s Economy

Wildrose News Release bannerEDMONTON, AB: Following the release of a Fraser Institute report that confirms the damaging effect the NDP government’s carbon emissions cap will have on the Canadian economy, they must cancel the risky plan before it comes into effect, the Wildrose Official Opposition said.

The Fraser Institute report outlines the damaging effects the proposed cap of 100 megatonne of emissions would have on the Canadian economy, potentially lowering production by more than three billion barrels over a 15 year span, and costing $250 billion in lost production to the Canadian economy. To make matters worse, the proposed intent of the emission cap, which is to lower emissions, shows that there would only be a net reduction of 0.035 per cent of global emissions by 2040. These numbers don’t reflect the economic hardship that will come from the proposal.

“This report confirms what Albertans have already suspected; that NDP policy is damaging the long term economic interests of our province,” Wildrose Leader Brian Jean said. “To make matters worse, the Premier’s hand-picked advisory group responsible for implementing the cap on resource development is co-chaired by someone refers to Alberta’s oil sands as ‘Mordor.’ Albertans want someone willing to stand up for their best interests and they’re certainly not getting that from this NDP government.”

To date, Energy Minister McCuaig-Boyd has been silent about the detrimental impact her government’s policies would have on the province. Wildrose believes that future investment in our province depends on having a competitive energy framework, including the ability for future growth of the oil sands.

“If this policy won’t reduce emissions and will be costly to future generations of Albertans, then what on earth is the NDP government doing this for?” Wildrose Shadow Energy Minister Leela Aheer said. “We are starting to see a pattern of the NDP government’s true colours showing – proceeding with policy for ideology’s sake, no matter the damage it will do to our province.”

Wildrose will continue to be on the side of everyday Albertans and urging the NDP government to cancel their risky and ideological energy policies, including the 100 megatonne limit and the $3 billion dollar carbon tax on everyone and everything.