Editing Economy of Alberta

{{Short description|None}}
{{Use Canadian English|date= November 2023}}
{{Use mdy dates|date= November 2023}}
{{Infobox economy
| country = Alberta
| image = Alberta oil field.JPG
| caption = Aerial photo of oilfield roads and drill sites in the [[Pembina Oil Field]], 2008.
| currency = [[Canadian dollar]] (CAD, C$)
| year = April 1 – March 29
| gdp = CAD$338.2 billion (2018)
| population = {{increase}} 4,421,876 (2020)<ref>{{cite web |title=Population estimates on July 1st, by age and sex |url=https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=1710000501 |website=statscan.gc.ca | date=June 27, 2018 |publisher=Statistics Canada |access-date=April 3, 2021}}</ref>
}}

The '''economy of Alberta''' is the sum of all [[economic activity]] in [[Alberta]], [[Population of Canada by province and territory|Canada's fourth largest province by population]]. Alberta's GDP in 2018 was CDN$338.2 billion.<ref>{{Cite web|title=Economic Dashboard - Gross Domestic Product|url=https://economicdashboard.alberta.ca/grossdomesticproduct|access-date=September 21, 2019|website=economicdashboard.alberta.ca|language=en}}</ref>

Although Alberta has a presence in many industries such as agriculture, forestry, education, tourism, finance, and manufacturing, the politics and culture of the province have been closely tied to the production of [[fossil energy]] since the 1940s. Alberta—with an estimated 1.4 billion cubic metres of [[unconventional oil]] resource in the bituminous [[oil sands]]—leads Canada as an oil producer.<ref name="statcan_2003" />

In 2018, Alberta's energy sector contributed over $71.5 billion to Canada's nominal gross domestic product.<ref name="NRCAN_20190907">{{cite news| work = NRCAN| title = Energy and Economy| access-date = September 7, 2019| date = September 7, 2019| url = https://www.nrcan.gc.ca/energy-and-economy/20062| archive-date = September 1, 2019| archive-url = https://web.archive.org/web/20190901001744/https://www.nrcan.gc.ca/energy-and-economy/20062| url-status = dead}}</ref> According to [[Statistics Canada]], in May 2018, the oil and gas extraction industry reached its highest proportion of Canada's national GDP since 1985, exceeding 7% and "surpass[ing] banking and insurance"<ref name="CBC_Fletcher_20180731">{{cite news|first = Robson |last=Fletcher|date = July 31, 2018| title = Oil and gas surpasses banking and insurance as share of GDP in May |work= CBC News| access-date =September 7, 2019| url = https://www.cbc.ca/news/canada/calgary/oil-and-gas-gdp-growth-may-data-statscan-1.4768508}}</ref> with extraction of non-conventional oil from the oilsands reaching an "impressive", all-time high in May 2018.<ref name="CBC_Fletcher_20180731" /> With conventional oil extraction "climbed up to the highs from 2007", the demand for Canadian oil was strong in May.<ref name="CBC_Fletcher_20180731" />

From 1990 to 2003, Alberta's economy grew by 57% compared to 43% for all of Canada—the strongest economic growth of any region in Canada.<ref name="statcan_2003">{{cite web | url=http://www.statcan.gc.ca/pub/11-621-m/11-621-m2005023-eng.htm#tm8 | title=Canada, a Big Energy Consumer: A Regional Perspective | publisher=Statistics Canada | date=November 12, 2009 | access-date=March 17, 2016}}</ref> In 2006 Alberta's per capita GDP was [[List of U.S. states by GDP per capita (nominal)|higher than all US states]], and [[List of country subdivisions by GDP per capita (nominal)|one of the highest figures in the world]]. In 2006, the deviation from the national average was the largest for any province in Canadian history.<ref name="statcan_200609"/> Alberta's per capita GDP in 2007 was by far the highest of any province in Canada at [[Canadian dollar|C$]]74,825 (approx. US$75,000). Alberta's per capita GDP in 2007 was 61% higher than the Canadian average of [[Canadian dollar|C$]]46,441 and more than twice that of all the [[Maritime provinces]]. From 2004 to 2014 Alberta's "exports of commodities rose 91%, reaching $121 billion in 2014" and 500,000 new jobs were created.<ref name="economic_results_AB2015">{{cite web | url=http://www.albertacanada.com/business/overview/economic-results.aspx | title=Economic results | publisher=Government of Alberta | date=October 25, 2015 | access-date=March 16, 2016}}</ref> In 2014, Alberta's real GDP by expenditure grew by 4.8%, the strongest growth rate among the provinces."<ref name="finance_alberta_about_2016_mar_11" /> In 2017, Alberta's real per capita GDP—the economic output per person—was $71,092, compared to the Canadian average of $47,417.<ref name="ATB_20180530"/> In 2016, Alberta's A grade on its income per capita was based on the fact that it was almost "identical" to that of the "top peer country"—Ireland.<ref name="conferenceboard_2017"/>

The energy industry provided 7.7% of all jobs in Alberta in 2013,<ref name="economic_results_AB2015" /> and 140,300 jobs representing 6.1% of total employment of 2,286,900 in Alberta in 2017.<ref name="GovAB_2018"/> The unemployment rate in Alberta peaked in November 2016 at 9.1%. Its lowest point in a ten-year period from July 2009 to July 2019, was in September 2013 at 4.3%.<ref name="economicdashboard"/> The unemployment rate in the spring of 2019 in Alberta was 6.7% with 21,000 jobs added in April.<ref name="StatsCan">{{Cite web| last = Government Of Canada| first = Statistics Canada| title = Regional unemployment rates used by the Employment Insurance program, three-month moving average, seasonally adjusted| access-date = September 5, 2019| date = May 10, 2019| url = https://www150.statcan.gc.ca/n1/daily-quotidien/190510/t012a-eng.htm}}</ref> By July 2019, the seasonally adjusted unemployment rate had increased to 7.0%.<ref name="economicdashboard">{{Cite web| title = Unemployment Rate| access-date = September 5, 2019| url = https://economicdashboard.alberta.ca/Unemployment}}</ref>

By August 2019, the employment number in Alberta was 2,344,000, following the loss of 14,000 full-time jobs in July, which represented the "largest decline" in Canada according to Statistics Canada.<ref name="edmontonjournal_Wyton_20190909">{{Cite web| title = Alberta economy sheds 14,000 full-time jobs in July |newspaper= Edmonton Journal| access-date = September 6, 2019 |first=Moira |last=Wyton |date=August 9, 2019 | url = https://edmontonjournal.com/news/local-news/alberta-economy-sheds-14000-full-time-jobs-in-july}}</ref>

Beginning in June 2014, the record high volume of worldwide oil inventories in storage—referred to as a global [[2010s oil glut|oil glut]]<ref name="Firzli">{{cite news|url=https://www.academia.edu/6702258 |work=Al-Hayat |location=London |title=A GCC House Divided: Country Risk Implications of the Saudi-Qatari Rift |first=M. Nicolas J. |last=Firzli |date=April 6, 2014 |access-date=December 29, 2014}}</ref>—caused crude oil prices to collapse at near ten-year low prices.<ref name="G&M_Deloitte_2016">{{citation |work=Globe and Mail via PressReader |date=February 6, 2016 |title=Deloitte warns of oil bankruptcies}}</ref><ref name="reuters_2016_Feb16">{{cite news | url=https://www.reuters.com/article/us-usa-shale-bankruptcy-idUSKCN0VP0O6 | title=High risk of bankruptcy for one-third of oil firms: Deloitte | work=Reuters | date=February 16, 2016 | access-date=February 17, 2016 | author=Scheyder, Ernest | location=Houston}}</ref><ref name="fortune_2016">{{cite magazine | url=http://fortune.com/2016/02/16/oil-companies-bankrupt/ | title=One-Third of Oil Companies Could Go Bankrupt this Year | magazine=Fortune | date=February 16, 2016 | access-date=February 17, 2016 | author=Zillman, Claire}}</ref> By 2016 [[West Texas Intermediate]] (WTI)—the benchmark light, sweet crude oil—reached its lowest price in ten years—US$26.55. In 2012 the price of WTI had reached US$125 and in 2014 the price was $100. By February 2016 the price of [[Western Canadian Select]] WCS—the Alberta benchmark heavy crude oil—was US$14.10<ref name="calgaryherald_feb_3_2016_">{{cite news | title=Commodities | newspaper=Calgary Herald | date=February 3, 2016 |page=C7}}</ref><ref name="albertaoilmagazine">{{cite web | url=http://www.albertaoilmagazine.com/2016/01/wcs-slides-to-us14-50-per-barrel/ | title=WCS Slides to US$14.50 per Barrel Global stock and commodities market turmoil continue, with WTI hitting US$26.55 per barrel | publisher=Alberta Oil Magazine | date=January 20, 2016 | access-date=March 17, 2016 | author=Wilson, Nick}}</ref>—the cheapest oil in the world.<ref name="FP_WCS_cheapest">{{citation |title=Canada's challenge is how to make money selling the world's cheapest oil—but it can be done |work=Financial Post |access-date=January 26, 2016 |first=Claudia |last=Cattaneo | date= December 16, 2015 |url=http://business.financialpost.com/news/energy/canadas-challenge-is-how-to-make-money-selling-the-worlds-cheapest-oil-but-it-can-be-done?__lsa=e1a0-e5f6}}</ref> Alberta boom years from 2010 to 2014 ended with a "long and deep" recession that began in 2014, driven by low commodity pricing ended in 2017.<ref name="CBC_Tombe_20190731"/> By 2019—five years later—Alberta was still in recovery. Overall, there were approximately 35,000 jobs lost in mining, oil and gas alone.<ref name="CBC_Tombe_20190731"/> Since 2014, sectors that offered high-wage employment of $30 and above, saw about 100,000 jobs disappear—"construction (down more than 45,000 jobs), mining, oil and gas (down nearly 35,000), and professional services (down 18,000)," according to the economist, [[Trevor Tombe (economist)|Trevor Tombe]].<ref name="CBC_Tombe_20190731"/> There was a decrease in wages, in the number of jobs, and in the number of hours worked. The total loss of incomes from "workers, business, and government" amounted to about 20 percent or about CDN$75 billion less per year.<ref name="CBC_Tombe_20190731"/> Since 2011, prices have increased in Alberta by 18%.<ref name="CBC_Tombe_20190731"/> However, a typical worker in Alberta still earns more than a typical worker in all the other provinces and territories.<ref name="CBC_Tombe_20190731"/>

By March 2016, Alberta lost over 100,000 jobs in the oil patch.<ref name="calgaryherald_mar_17_2016">{{cite news | url=https://calgaryherald.com/business/energy/medicine-hat-reeling-after-second-fracking-company-announces-pullout | title=Medicine Hat reeling after second fracking company announces pullout | newspaper=Calgary Herald | date=March 17, 2016 | access-date=March 17, 2016 | author=Healing, Dan}}</ref> In spite of the surplus with the low price of WCS in 2015—99% of Canada's oil exports went to the United States<ref name="EIA_2012">{{cite web | url=https://www.eia.gov/todayinenergy/detail.cfm?id=8950 | title=Canada Week: Canada is the leading supplier of crude oil to the United States | publisher=EIA | date=November 8, 2012 | access-date=March 18, 2016}}</ref> and in 2015 Canada was still their largest exporter of total petroleum—3,789 thousand bpd in September—3,401 thousand bpd in October up from 3,026 thousand bpd in September 2014.<ref name="EIA_2016">{{cite report |url=http://www.eia.gov/petroleum/imports/companylevel/ |title=Petroleum imports |date=December 2016 |work=EIA}}</ref> By April 2019, two of the major oil companies, still had thousands of workers—Suncor had about 12,500 employees and Canadian Natural Resources had about 10,000 full-time employees.<ref name="cbc_Bakx_20190408">{{cite news |last = Bakx | first = Kyle |work=CBC News|date= April 8, 2019| title = Why Jason Kenney is targeting some of Canada's Big Oil executives| access-date = September 5, 2019| url = https://www.cbc.ca/news/business/kenney-big-oil-ceos-1.5083119}}</ref>

Alberta has the "lowest taxes overall of any province or territory" in Canada,<ref name="huffingtonpost_2016_03_14">{{cite news | url=http://www.huffingtonpost.ca/2016/03/14/joe-ceci_n_9463302.html | title=Joe Ceci Reminds Businesses Alberta Has The Lowest Taxes In Canada | work=Huffington Post | date=March 14, 2016 | access-date=March 16, 2016 | author=Bennett, Dean}}</ref> due in part to having high resource tax revenues. However, overall tax revenues from oil royalties and other non-renewable sources has fallen steeply along with the drop in global oil prices. For example, in 2013, oil tax revenues brought in 9.58 billion, or 21% of the total Provincial budget,<ref name="AlbertaBudget2013">{{cite web | url=https://open.alberta.ca/dataset/7714457c-7527-443a-a7db-dd8c1c8ead86/resource/5604f999-fa33-4f77-bff4-1b8a189979e1/download/goa-2013-14-annual-report-complete.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://open.alberta.ca/dataset/7714457c-7527-443a-a7db-dd8c1c8ead86/resource/5604f999-fa33-4f77-bff4-1b8a189979e1/download/goa-2013-14-annual-report-complete.pdf |archive-date=2022-10-09 |url-status=live |title=Alberta 2013-2014 Budget }}</ref> whereas in 2018 it had fallen to just 5.43 billion, or 11% of the Provincial budget.
<ref name="AlbertaBudget2018">{{cite web | url=https://open.alberta.ca/dataset/3d732c88-68b0-4328-9e52-5d3273527204/resource/2b82a075-f8c2-4586-a2d8-3ce8528a24e1/download/Budget-2019-Fiscal-Plan-2019-23.pdf#revenue |archive-url=https://ghostarchive.org/archive/20221009/https://open.alberta.ca/dataset/3d732c88-68b0-4328-9e52-5d3273527204/resource/2b82a075-f8c2-4586-a2d8-3ce8528a24e1/download/Budget-2019-Fiscal-Plan-2019-23.pdf#revenue |archive-date=2022-10-09 |url-status=live |title=Alberta 2018-2019 Budget}}</ref>

In the spring of 2020, Alberta's economy suffered from the economic fallout of both the [[COVID-19 pandemic]] and the [[2020 Russia–Saudi Arabia oil price war]]."<ref name="CBC_20200402"/>

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== Data ==
{{Pie chart
| radius = 100
| thumb = 
| caption = GDP by sector, 2016<ref>{{Cite web|title=Highlights of the Alberta Economy|url=https://open.alberta.ca/dataset/10989a51-f3c2-4dcb-ac0f-f07ad88f9b3b/resource/513eef5f-aa53-4cde-888d-8e52822b6db4/download/sp-eh-highlightsabeconomypresentation.pdf|url-status=live|website=Open Alberta|archive-url=https://web.archive.org/web/20191026021508/https://open.alberta.ca/dataset/10989a51-f3c2-4dcb-ac0f-f07ad88f9b3b/resource/513eef5f-aa53-4cde-888d-8e52822b6db4/download/sp-eh-highlightsabeconomypresentation.pdf |archive-date=October 26, 2019 }}</ref>
| other = 
| label1 =Oil, Gas, & Mining 
| value1 =16.4
| color1 =DarkGreen
| label2 =Manufacturing
| value2 =6.7
| color2 =Green
| label3 =Transportation & Utilities
| value3 =6.6
| color3 =DarkOliveGreen
| label4 =Business Services
| value4 =11.8
| color4 =Indigo
| label5 =Real Estate
| value5 =11.7
| color5 =Purple
| label6 =Tourism
| value6 =5.1
| color6 =DarkMagenta
| label7 =Retail
| value7 =9.5
| color7 =DarkRed
| label8 =Public Administration
| value8 =5.4
| color8 =Red
| label9 =Finance & Insurance
| value9 =4.8
| color9 =Firebrick
| label10 =Education
| value10 =4.1
| color10 =DarkKhaki
| label11 =Health Care
| value11 =6.3
| color11 =Gold
| label12 =Agriculture & Forestry
| value12 =1.8
| color12 =Khaki
| label13 =Construction
| value13 =10.1
| color13 =PeachPuff
}}

{| class="wikitable sortable" style="text-align:center;"
!Year
! class="unsortable" |Nominal GDP
<small>(in bil. CA-Dollar)</small>
!GDP per capita
<small>(in CA-Dollar)</small>
!Unemployment
<small>(in %)</small>
|-
|2019
|334.5
|77,239
|6.8%
|-
|2018
|334.3
|78,311
|6.9%
|-
|2017
|328
|77,765
|8.7%
|-
|2016
|314.6
|75,447
|8.6%
|-
|2015
|326.5
|79,324
|4.6%
|-
|2014
|338.3
|83,946
|4.7%
|-
|2013
|319.5
|81,495
|4.5%
|-
|2012
|302.1
|78,979
|5.0%
|-
|2011
|290.5
|77,375
|5.9%
|-
|2010
|272.2
|73,523
|6.6%
|-
|2009
|258.9
|71,156
|4.9%
|-
|2008
|273.5
|77,068
|3.7%
|-
|2007
|270
|77,748
|3.6%
|-
|2006
|264.8
|78,533
|3.8%
|-
|2005
|248.6
|75,867
|4.5%
|-
|2004
|237.7
|74,064
|4.9%
|-
|2003
|224.7
|71,218
|5.4%
|-
|2002
|216.8
|70,114
|4.9%
|-
|2001
|211.6
|69,882
|5.2%
|-
|2000
|207.8
|69,860
|5.0%
|-
|1999
|196
|66,984
|5.9%
|-
|1998
|193.2
|67,569
|5.3%
|-
|1997
|184.3
|65,832
|6.4%
|}

==Current overview==
According to [[ATB Financial]]'s Vice President and Chief Economist—[[Todd Hirsch]], who spoke during an April 2, 2020, webinar hosted by the [[Calgary Chamber of Commerce]], the [[COVID-19 pandemic in Alberta]] and its "economic fallout will permanently reshape our economy." Hirsch said that he expects that the resulting contraction in Alberta's economy will be the "worst...Alberta has ever seen."<ref name="CBC_20200402">{{Cite web| title = Alberta to face its 'worst contraction' ever, ATB chief economist warns |work= CBC News| access-date = April 3, 2020 |date = April 2, 2020| url = https://www.cbc.ca/news/canada/calgary/todd-hirsch-atb-covid-19-coronavirus-jason-kenney-1.5520100}}</ref>

The global price of oil decreased dramatically because of the combination of [[COVID-19 pandemic]] and the [[2020 Russia–Saudi Arabia oil price war]]. In March 2020, the United States benchmark crude oil [[EWest Texas Intermediate]] (WTI)—upon which Alberta's benchmark crude oil [[Western Canadian Select]] (WCS) price is based—dropped to an historical below of US$20 a barrel.<ref name="WaPo_Taylor_20200309">{{cite news| last1 = Taylor| first1 = Adam| last2 = Noack| first2 = Rick| last3 = McAuley| first3 = James | last4 = Shammas| first4 = Brittany| title = Live updates: N.Y. Port Authority head tests positive; riots reported at prisons in Italy over coronavirus restrictions| newspaper = Washington Post| access-date = March 9, 2020 |date=March 9, 2020| url = https://www.washingtonpost.com/world/2020/03/09/coronavirus-live-updates/}}</ref><ref name="NYT_20200306">{{cite news| issn = 0362-4331| title = Stocks Fall and Bond Yields Sink: Live Updates| work = The New York Times| access-date = March 6, 2020| date = March 6, 2020| url = https://www.nytimes.com/2020/03/06/business/stock-markets-today.html}}</ref><ref name="WaPo_Long_20200309">{{cite news| last = Long| first = Heather| title = The markets are sending a message about coronavirus: The recession risk is real| newspaper = Washington Post| access-date = March 9, 2020 |date=March 9, 2020| url = https://www.washingtonpost.com/business/2020/03/09/coronavirus-stock-market-oil-trump/}}</ref><ref>{{cite news| title = US crude oil price falls below $20 |work= Financial Times| access-date = April 2, 2020| url = https://www.ft.com/content/bc938195-82d3-43eb-b031-740028451382}}</ref> The price of WCS bitumen-blend crude was US$3.82 per barrel by the end of March.<ref name="CP_Bloomberg_20200330">{{cite news |first=Dan |last=Healing| work = Canadian Press via BNN Bloomberg| title = Oil sands producers in the red as WCS price touches US$4 per barrel| access-date = April 1, 2020| date = March 30, 2020| url = https://www.bnnbloomberg.ca/oil-sands-producers-in-the-red-as-blended-bitumen-price-dips-below-us-4-per-barrel-1.1414715}}</ref>
In 2018, the low price of heavy oil negatively impacted Alberta's economic growth.<ref name="TD_20190906">{{Cite web| title = Provincial Economic Forecast (Alberta) |work=[[TD Economics]]| access-date = September 6, 2019 |date=September 6, 2019| url = https://economics.td.com/provincial-economic-forecast}}</ref><ref name="edmontonjournal_Clancy_20190228">{{cite news| title = Alberta deficit down $1.9 billion on heels of oil curtailment |newspaper= Edmonton Journal| access-date = September 6, 2019 |first=Clare |last=Clancy |date=February 27, 2019 | url = https://edmontonjournal.com/news/politics/finance-minister-joe-ceci-to-release-fiscal-update}}</ref>

In November 2018, the price of [[Western Canadian Select]] (WCS), the benchmark for Canadian heavy crude, hit its record low of less than US$14 a barrel,<ref name="G&M_Lundy_20181127">{{cite news| title = Why Alberta's latest oil-price plunge is unprecedented| access-date = December 28, 2018| url = https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-why-albertas-latest-oil-price-plunge-is-unprecedented/ |newspaper=The Globe and Mail |first=Matt |last=Lundy |date=November 27, 2018}}</ref> as a "surge of production met limited pipeline space causing bottlenecks."<ref name="financialpost_Tuttle_20181212"/> Previously, from 2008 through 2018, WCS had sold at an average discount of US$17 against [[West Texas Intermediate]] (WTI)—the U.S. crude oil benchmark, but by the fall of 2018, the differential between WCS and WTI reached a record of over US$50 per barrel.<ref name="edmontonjournal_Clancy_20190228"/> In response, then Premier [[Rachel Notley]] made a December 2 announcement of a mandatory cut of 8.7% in Alberta's oil production.<ref name="financialpost_Tuttle_20181212">{{Cite web |title = Alberta's oil production cuts are working a little too well and making crude too expensive to ship| access-date = December 29, 2018| date = December 12, 2018 |url=https://business.financialpost.com/commodities/energy/albertas-output-cut-mandate-may-be-driving-oil-prices-too-high |work=Bloomberg News via Financial Post |first=Robert |last=Tuttle}}</ref> By December 12, after the announcement of the government's "mandated oil output curtailment", the price of WCS rose c. 70% to c. US$41 a barrel with the WTI differential falling from US50 to c. US$11., according to the ''[[Financial Post]]''. The WCS price rose to US$28.60 by January 2019, as the international price of oil had begun to recover from the December "sharp downturn" caused by the ongoing [[China–United States trade war (2018–present)|China–U.S. trade war]]<ref name="CBC_20190107">{{Cite web| date = January 7, 2019| work = CBC News | title = Oil prices rebound, buoying loonie and Canadian stocks |access-date= January 7, 2019| url = https://www.cbc.ca/news/business/oil-stocks-jan7-1.4968580}}</ref> In March 2019, the differential of WTI over WCS decreased to $US9.94 as the price of WTI dropped to US$58.15 a barrel, which is 7.5% lower than it was in March 2018, while the price of WCS increased to US$48.21 a barrel which is 35.7% higher than in March 2018.<ref name="AB_oilprices_20190521">{{Cite web| series = Economic Dashboard |title=Oil Prices| access-date = May 21, 2019| url = https://economicdashboard.alberta.ca/OilPrice |date=March 2019 |work=Alberta }}</ref> According to TD Economics' September 2019 report, the government's "mandated oil output curtailment", has resulted in a sustained rebound in WCS prices.<ref name="TD_20190906"/> However, investment and spending were low in the province.<ref name="TD_20190906"/> The loss of 14, 000 of the full-time jobs out of 2,344,000 in Alberta in July 2019, represented the "largest decline" in employment in Canada for that month, according to Statistics Canada.<ref name="edmontonjournal_Wyton_20190909"/>

In 1985, Alberta's energy industry accounted for 36.1% of the provinces $66.8 billion GDP.<ref name="GovAB_2017407">{{Cite web|date=July 2017|title=Highlights of the Alberta Economy|url=https://open.alberta.ca/dataset/10989a51-f3c2-4dcb-ac0f-f07ad88f9b3b/resource/a4037953-4c78-4550-b71f-cde59f7f1422/download/6864680-2014-07-highlights-alberta-economy-presentation.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://open.alberta.ca/dataset/10989a51-f3c2-4dcb-ac0f-f07ad88f9b3b/resource/a4037953-4c78-4550-b71f-cde59f7f1422/download/6864680-2014-07-highlights-alberta-economy-presentation.pdf |archive-date=2022-10-09 |url-status=live|pages=33|access-date=September 7, 2019}}</ref>{{rp|3}} In 2006, the mining, oil and gas extraction industry accounted for 29.1% of GDP;<ref name="GovAB_2018"/>{{rp|3}} by 2012 it was 23.3%;<ref name="occinfo_alis_alberta_2016" /> in 2013, it was 24.6% of Alberta's $331.9 billion GDP,<ref name="GovAB_2017407"/>{{rp|6}} and in 2016, the mining, oil and gas extraction industry accounted for about 27.9% of Alberta's GDP.<ref name="GovAB_2018"/>{{rp|3}}

By comparison, "In 2017, the federal, provincial and territorial governments spent some $724 billion on programs and more than $58 billion on interest payments on their public debt, which, combined, amounted to about 36 percent of Canada’s gross domestic product (GDP). Their combined borrowing that year was $27 billion, and their net financial debt at year-end stood at around $1.2 trillion, about 54 percent of GDP."

In his July 2019 ''CBC News'' article, economist Trevor Tombe said that prior to the 2014 recession, Albertans had experienced boom years from 2010 to 2014, with workers earnings reaching exceptional highs.<ref name="CBC_Tombe_20190731">{{cite news| date = July 31, 2019| first = Trevor |last=Tombe |work=CBC News| title = Why earnings in Alberta have been stagnant for years | access-date = September 9, 2019| url = https://www.cbc.ca/news/canada/calgary/alberta-wages-recession-tombe-1.5229086}}</ref> The recession, which "ended over two years ago" in 2017, was "long and deep".<ref name="CBC_Tombe_20190731"/> By 2019—five years later—the province was still in recovery. Overall, there were approximately 35,000 jobs lost in mining, oil and gas alone.<ref name="CBC_Tombe_20190731"/> By 2019, the slow recovery and low earnings growth have resulted in workers getting "fewer hours, fewer jobs and, in some cases, lower wages".<ref name="CBC_Tombe_20190731"/> Tombe said that from 2014 to 2016, Alberta earned CDN$75 billion less per year with the "total incomes of workers, business, and government combined [falling] by nearly 20 per cent". Tombes said that relative to Alberta's "growth path prior to the recession" Alberta's economy is "down $100 billion per year", compared to what was anticipated.<ref name="CBC_Tombe_20190731"/> Tombes said that the "boom years that ended in 2014 were the outliers" and the lower earnings in 2019 reflect a "natural adjustment that's moving Alberta to a more normal and balanced labour market."<ref name="CBC_Tombe_20190731"/> While earnings are lower, because of inflation, prices have increased in Alberta by 18% since 2011.<ref name="CBC_Tombe_20190731"/> "The $1,183 per week a typical worker earns today goes about as far as $1,000 did nearly a decade ago.", according to Tombe.<ref name="CBC_Tombe_20190731"/> In spite of the typical worker in Alberta earns $1,183 per week compared to Saskatchewan, where the typical worker earns $1,070 per week. The weekly income a typical worker in all the other Canadian provinces and territories is less than that.<ref name="CBC_Tombe_20190731"/>

Since 2014, sectors that offered high-wage employment of $30 and above, saw about 100,000 jobs disappear—"construction (down more than 45,000 jobs), mining, oil and gas (down nearly 35,000), and professional services (down 18,000)."<ref name="CBC_Tombe_20190731"/>

==Alberta's deficit==
Alberta's net debt was $27.5 billion by March 2019, which represents the end of the 2018-19 fiscal year (FY).<ref name="McKinnon_Report_201908">{{Cite report|url=https://open.alberta.ca/dataset/081ba74d-95c8-43ab-9097-cef17a9fb59c/resource/257f040a-2645-49e7-b40b-462e4b5c059c/download/blue-ribbon-panel-report.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://open.alberta.ca/dataset/081ba74d-95c8-43ab-9097-cef17a9fb59c/resource/257f040a-2645-49e7-b40b-462e4b5c059c/download/blue-ribbon-panel-report.pdf |archive-date=2022-10-09 |url-status=live|title=MacKinnon Report on Alberta's Finances|last1=MacKinnon|first1=Janice|author2=Mike Percy|date=August 2019|pages=82|quote="An independent panel of experts reviewed Alberta’s finances and provided recommendations to bring the budget back to balance."|author3=Kim Henderson|author4=Bev Dahlby|author5=Dave Mowat|author6=Jay Ramotar|access-date=September 7, 2019|via=Treasury Board and Finance}}</ref>{{rp|70}}<ref name="calgaryherald_Varcoe_20190904">{{cite news|last1=Varcoe|first1=Chris|date=September 4, 2019|title=MacKinnon report recommends tough medicine for Alberta's budget blues|newspaper=Calgary Herald|url=https://calgaryherald.com/opinion/columnists/varcoe-mackinnon-report-issues-tough-prescription-for-albertas-budget-blues|access-date=September 7, 2019}}</ref> By November 2018, Alberta's government expenditures were $55 billion while the revenue was about $48 billion, according to a report by the [[University of Calgary]]'s School of Public Policy (SPP) economist, Trevor Tombe.<ref name="SPP_Tombe_201811">{{Cite journal| pages = 36| last = Tombe| first = Trevor| title = Alberta's long-term fiscal future | journal = The School of Public Policy Publications|issn= 2560-8320 |publisher=The School of Public Policy (SPP) |date=November 2018 |access-date=September 6, 2019 |location=Calgary, Alberta |volume=11 |number=31 |series=SPP Research Paper | doi = 10.55016/ojs/sppp.v11i1.52965|url=https://www.policyschool.ca/wp-content/uploads/2018/11/AB-Fiscal-Future-Tombe.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.policyschool.ca/wp-content/uploads/2018/11/AB-Fiscal-Future-Tombe.pdf |archive-date=2022-10-09 |url-status=live }}</ref>{{rp|4}} Capital investment amounted to $4.3 billion.<ref name="SPP_Tombe_201811"/> The provincial government employs more than "210,000 full-time equivalent workers across hundreds of departments, boards and other entities."<ref name="SPP_Tombe_201811"/> Tombe, cited a $8.3 billion deficit in his November report,<ref name="SPP_Tombe_201811"/>{{rp|5}} prior to the release in February 2019 of the corrected deficit figures, which was "$1.9 billion less in 2018-19 than originally expected", —$6.9-billion deficit instead of the original $8.8-billion".<ref name="edmontonjournal_Clancy_20190228"/>

Alberta's current deficit is "unusual for the province", says Tombe in 2018.<ref name="SPP_Tombe_201811"/>{{rp|7}} During the financial crisis, Alberta's "net asset position equivalent to 15 per cent of GDP"−it "owned more financial assets than it owed in debt."<ref name="SPP_Tombe_201811"/>{{rp|6}}

In 2009 Alberta had $31.7 billion in financial assets.<ref name="McKinnon_Report_201908"/>{{rp|70}}

{| class="wikitable"
|+ Net government debt to GDP by province March 2019<ref name="SPP_Tombe_201811"/>{{rp|6}}
! BC !! Alberta!! Saskatchewan!! Manitoba!! Ontario!! Quebec!! New Brunswick!! Nova Scotia!! Prince Edward Island!! Newfoundland!! 
|-
| 15.5% || 8.7% ||15.4%||34.2%||37.6%||43%||40%||34.2||33%||47.3%
|}

==Alberta's credit rating==
On December 3, 2019, [[Moody's Investors Service|Moody's]] downgraded Alberta's credit rating from Aa2 stable from Aa1 negative and "downgraded the long-term debt ratings of the Alberta Capital Finance Authority and the long-term issuer rating of ATB Financial to Aa2 from Aa1."<ref name="CBC_Rieger_20191204">{{cite news| last = Rieger| first = Sarah| title = Moody's downgrades Alberta's credit rating, citing continued dependence on oil |work= CBC News| access-date = December 5, 2019| date = December 4, 2019| url = https://www.cbc.ca/news/canada/calgary/moody-s-alberta-credit-rating-1.5383294}}</ref> The agency said that there is a "structural weakness in the provincial economy that remains concentrated and dependent on non-renewable resources ... and remains pressured by a lack of sufficient pipeline capacity to transport oil efficiently with no near-term expectation of a significant rebound in oil-related investments...Alberta's oil and gas sector is [[emission intensity|carbon-intensive]] and Alberta's greenhouse gas emissions are the highest among provinces. Alberta is also susceptible to natural disasters including wildfires and floods which could lead to significant mitigation costs by the province."<ref name="CBC_Rieger_20191204"/>

==Alberta's real per capita GDP==
In 2006 Alberta's per capita GDP was [[List of U.S. states by GDP per capita (nominal)|higher than all US states]], and [[List of country subdivisions by GDP per capita (nominal)|one of the highest figures in the world]]. In 2006, the deviation from the national average was the largest for any province in Canadian history.<ref name="statcan_200609">{{Cite web | url= http://www.statcan.ca/english/ads/11-010-XPB/pdf/sep06.pdf | author= Statistics Canada | author-link= Statistics Canada | title= The Alberta economic Juggernaught:The boom on the rose | date= September 2006 | access-date= February 2, 2007 | url-status= dead | archive-url= https://web.archive.org/web/20061109110655/http://www.statcan.ca/english/ads/11-010-XPB/pdf/sep06.pdf | archive-date= November 9, 2006 }}</ref> In 2007, Alberta's per capita GDP in 2007 was [[Canadian dollar|C$]]74,825 (approx. US$75,000)—by far the highest of any Canadian province—61% higher than the Canadian average of [[Canadian dollar|C$]]46,441 and more than twice that of all the [[Maritime provinces]]. In 2017, Alberta's real per capita GDP—the economic output per person—was $71,092, compared to the Canadian average of $47,417.<ref name="ATB_20180530"/> Alberta's A grade on its income per capita was based on the fact that it was almost "identical" to that of the "top peer country" in 2016, Ireland.<ref name="conferenceboard_2017"/>

In 2017, Alberta's real per capita GDP—the economic output per person—was $71,092 compared to the Canadian average output per person of $47, 417 and Prince Edward Island at $32,123 per person.<ref name="ATB_20180530">{{Cite web| title = Alberta's economy in a league of its own in Canada |work=The Owl |publisher=[[ATB Financial]]| access-date = September 6, 2019 |date= May 30, 2018 | url = https://www.atb.com/learn/economics/the-owl/Pages/ab-economy-in-a-league-of-its-own.aspx}}</ref> Since at least 1997, Alberta's per capita GDP has been higher than that of any other province. In 2014, Alberta's reached its highest gap ever—$30,069—between its real capita GDP and the Canadian average.<ref name="ATB_20180530"/>

According to the [[Conference Board of Canada]], in 2016 Alberta earned an "A grade with income per capita almost identical to the top peer country, Ireland."<ref name="conferenceboard_2017">{{Cite web| title = Income Per Capita - Economy Provincial Rankings - How Canada Performs| access-date = September 6, 2019 |date=2017| url = https://www.conferenceboard.ca/hcp/provincial/economy/income-per-capita.aspx}}</ref> In 2016 income per capita in Alberta was $59,259.

{| class="wikitable"
|+ Alberta Income per capita<ref name="conferenceboard_2017"/>
! 1981 !! 1988!! 1991 !! 1997!! 2000 !! 2003 !! 2005 !! 2007 !! 2009 !! 2010 !! 2014 !!2016 
|-
| 42,441 ||45,995 ||45,393 ||53,748 ||57,106 ||57,646 ||61,163 ||62,518 ||57,321 ||59,254 ||66,031 ||59,249
|}

==Alberta's GDP compared to other provinces==
A table listing annual "[https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610040201 "Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000)."] from 2014 through 2018 with value chained to 2012 dollars.<ref name="statcan_20190907"/>

{| class="wikitable sortable"
|- style="background: #efefef;"
! scope="col" | Province<br />or<br />''Territory''
! scope="col" | GDP<br />(million<br />CAD, 2014)
! scope="col" | GDP<br />(million<br />CAD, 2015)
! scope="col" | GDP<br />(million<br />CAD, 2016)
! scope="col" | GDP<br />(million<br />CAD, 2017)
! scope="col" | GDP<br />(million<br />CAD, 2018)
|-|- align=right
| align=left | {{BC}} || 219,060.9 || 224,153.4 || 231,509.9 || 240,657.9|| 246,506.3
|- align=right
| align=left | {{AB}} || 338,262.6 || 326,476.7 ||313,241.5 || 327,596.2 || 335,095.6
|- align=right
| align=left | {{SK}} ||80,175.7 || 79,574.2 ||79,364.4 || 81,179.0||82,502.7
|- align=right
| align=left | {{MB}} || 58,276.3 ||59,082.5 ||60,066.2||61,941.2|| 62,723.1
|- align=right
| align=left | {{ON}} || 659,861.2 || 677,384.0 || 693,900.4|| 712,984.3|| 728,363.7
|- align=right
| align=left | {{QC}} ||338,319.0||341,688.0||346,713.7 ||356,677.9 || 365,614.4
|- align=right
| align=left | {{NB}} || 29,039.6 || 29,275.7 || 29,686.3 || 30,271.8|| 30,295.3
|- align=right
| align=left | {{PE}} ||5,205.6 ||5,280.7 || 5,372.2 || 5,553.3 || 5,700.0
|- align=right
| align=left | {{NS}} ||34,747.2 ||35,013.4 ||35,549.3|| 36,075.4 || 36,518.2 
|- align=right
| align=left | {{NL}} ||31,143.3 || 30,806.0 || 31,334.5|| 31,610.6 || 30,757.9
|- align=right
| align=left | {{YT}} || 2,510.9 ||2,320.2 ||2,482.5 || 2,554.5 || 2,626.1
|- align=right
| align=left | {{NT}} || 4,574.6 || 4,621.3 ||4,679.8 || 4,861.3 || 4,954.7
|- align=right
| align=left | {{flag|Nunavut}} || 2,363.6 || 2,353.0 || 2,434.3 || 2,685.3 || 2,955.0
|}

Source: [[Statistics Canada]]: GDP (totals),<ref name="statcan_20190907">{{Cite web|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610040201|title=Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000) |work=Government of Canada, Statistics |access-date=September 7, 2019 |date=September 7, 2019|number= 36-10-0402-01 (formerly CANSIM 379-0030)}}</ref>

==Economic geography==
[[File:Alberta, Canada.svg|thumb|left|Alberta's location within Canada]]
{{see also|Geography of Alberta|List of regions of Alberta}}

Alberta has a small internal market, and it is relatively distant from major [[World economy|world market]]s, despite good [[transportation in Canada|transportation links to the rest of Canada]] and [[transportation in the United States|to the United States to the south]]. Alberta is located in the [[Geography of North America|northwestern quadrant]] of [[North America]], in a region of low [[population density]] called the [[Interior Plains]]. Alberta is [[landlocked]], and separated by [[Western Cordillera (North America)|a series of mountain ranges]] from the nearest [[List of North American ports#Canada 5|outlets]] to the [[British Columbia Coast|Pacific Ocean]], and by the [[Canadian Shield]] from ports on [[Thunder Bay|the Lakehead]] or [[Hudson Bay]]. From these ports to major populations centres and markets in Europe or Asia is several thousands of kilometers. The largest population clusters of North America (the [[Northeast megalopolis|Boston&nbsp;– Washington]], [[California megapolitan areas|San Francisco - San Diego]], [[Great Lakes Megalopolis|Chicago&nbsp;– Pittsburgh]], and [[Quebec City&nbsp;– Windsor Corridor]]s) are all thousands of kilometers away from Alberta. Partly for this reason, Alberta has never developed a large presence in the industries that have traditionally started [[industrialization]] in other places (notably the original [[Industrial Revolution]] in Great Britain) but which require large [[labour force]]s, and large internal markets or easy transportation to export markets, namely [[Textile manufacturing|textiles]], [[metallurgy]], or transportation-related manufacturing ([[automotive manufacturing|automotives]], [[ship building|ships]], or [[List of locomotive builders|train cars]]).

[[Agriculture in Canada|Agriculture]] has been a key industry since the 1870s. The climate is dry, [[temperate]], and [[continental climate|continental]], with extreme variations between seasons. Productive soils are found in most of the southern half of the province (excluding the mountains), and in certain parts of the north. Agriculture on a large scale is practiced further north in Alberta than anywhere else in North America, extending into the [[Peace River country]] above the [[55th parallel north]]. Generally, however, [[northern Alberta]] (and areas along the [[Alberta Rockies]]) is forested land and [[logging]] is more important than agriculture there. Agriculture is divided into primarily [[field crops]] in the east, [[livestock]] in the west, and a mixture in between and in the [[Aspen parkland|parkland belt]] in the near north.

Conventional oil and gas fields are found throughout the province on an axis running from the northwest to the southeast. Oil sands are found in the northeast, especially around [[Fort McMurray]] (the [[Athabasca Oil Sands]]).

Because of its (relatively) economically isolated location, Alberta relies heavily on [[transportation in Alberta|transportation links]] with the rest of the world. Alberta's historical development has been largely influenced by the development of new [[transportation infrastructure]], (see "trends" below). Alberta is now served by two major [[transcontinental railways]] ([[Canadian National Railway|CN]] and [[Canadian Pacific Railway|CP]]), by three major highway connections to the Pacific (the [[Trans-Canada (highway)|Trans-Canada]] via [[Kicking Horse Pass]], the [[Yellowhead (highway)|Yellowhead]] via [[Yellowhead Pass]] and the [[Crowsnest (highway)|Crowsnest]] via [[Crowsnest Pass]]), and one to the United States ([[Interstate 15]]), as well as two international airports ([[Calgary International Airport|Calgary]] and [[Edmonton International Airport|Edmonton]]). Also, Alberta is connected to the [[TransCanada pipeline|TransCanada pipeline system]] (natural gas) to Eastern Canada, the [[Northern Border Pipeline]] (gas), [[Alliance Pipeline]] (gas) and [[Enbridge Pipeline System]] (oil) to the Eastern United States, the [[Gas Transmission Northwest]] and [[Northwest Pipeline]] (gas) to the Western United States, and the [[McNeill HVDC Back-to-back station]] (electric power) to Saskatchewan.

{{Economy of Canada}}

=== Economic regions and cities ===
Since the days of early agricultural settlement, the majority of Alberta's population has been concentrated in the [[parkland belt]] (mixed forest-grassland), a boomerang-shaped strip of land extending along the [[North Saskatchewan River]] from Lloydminster to Edmonton and then along the [[Rocky Mountain foothills]] south to Calgary. This area is slightly more humid and treed than the drier [[prairie]] (grassland) region called [[Palliser's Triangle]] to its south, and large areas of the south (the "[[Special Areas, Alberta|Special Areas]]") were [[depopulated]] during the [[drought]]s of the 1920s and 30s. The [[chernozem]] (black soil) of the parkland region is more agriculturally productive than the red and grey soils to the south. Urban development has also been most advanced in the parkland belt. Edmonton and Red Deer are parkland cities, while Calgary is on the parkland-prairie fringe. Lethbridge and Medicine Hat are prairie cities. Grande Prairie lies in the [[Peace River Country]] a parkland region (with isolated patches of prairie, hence the name) in the northwest isolated from the rest of the parkland by the forested [[Swan Hills]]. [[Fort McMurray]] is the only urbanized population centre in the [[boreal forest of Canada|boreal forest]] which covers much of the northern half of the province.

==== Calgary and Edmonton ====
The Calgary and Edmonton regions, by far the province's two largest metropolitan regions, account for the majority of the province's population. They are relatively close to each other by the standards of Western Canada and distant from other metropolitan regions such as Vancouver or Winnipeg. This has produced a history of political and economic rivalry and comparison but also economic integration that has created an urbanized corridor between the two cities.

The economic profile of the two regions is slightly different. Both cities are mature service economies built on a base of resource extraction in their hinterlands. However, Calgary is predominant in hosting the regional and national headquarters of oil and gas exploration and drilling companies. Edmonton skews much more towards governments, universities and hospitals as large employers, while Edmonton's suburban fringes (e.g. [[Fort Saskatchewan]], [[Nisku, Alberta|Nisku]], [[Strathcona County]] ([[Refinery Row (Edmonton)|Refinery Row]]), [[Leduc, Alberta|Leduc]], [[Beaumont, Alberta|Beaumont]], [[Acheson, Alberta|Acheson]]) are home to most of the province's manufacturing (much of it related to oil and gas).<ref name="edmontonjournal_Lamphier_20161210">{{cite news| last = Lamphier| first = Gary| newspaper = Edmonton Journal |title=It's a wrap, folks: thanks for a great run | access-date = September 5, 2019| date = December 10, 2016| url = https://edmontonjournal.com/opinion/columnists/gary-lamphier-its-a-wrap-folks-thanks-for-a-great-run}}</ref>

===== Calgary-Edmonton Corridor =====
The [[Calgary-Edmonton Corridor]] is the most urbanized region in the province and one of the densest in Canada. Measured from north to south, the region covers a distance of roughly {{convert|400|km}}. In 2001, the population of the Calgary-Edmonton Corridor was 2.15 million (72% of Alberta's population).<ref name="CECorridor">{{cite web|url=http://geodepot.statcan.ca/Diss/Highlights/Page9/Page9d_e.cfm|title=Calgary-Edmonton corridor|work=[[Statistics Canada]], 2001 Census of Population|date=January 20, 2003|access-date=March 22, 2007|archive-date=February 23, 2007|archive-url=https://web.archive.org/web/20070223191204/http://geodepot.statcan.ca/Diss/Highlights/Page9/Page9d_e.cfm|url-status=dead}}</ref> It is also one of the fastest-growing regions in the country. A 2003 study by [[TD Bank Financial Group]] found the corridor was the only Canadian urban centre to amass a U.S. level of wealth while maintaining a Canadian-style quality of life, offering universal health care benefits. The study found GDP per capita in the corridor was 10% above average U.S. metropolitan areas and 40% above other Canadian cities at that time.{{Citation needed|date=August 2008}}

===== Calgary–Edmonton rivalry =====
{{See also|Battle of Alberta}}
Seeing Calgary and Edmonton as part of a single economic region as the TD study did in 2003 was novel. The more traditional view had been to see the two cities as economic rivals. For example, in the 1980 both cities claimed to be the "Oil Capital of Canada".

==Background==
[[File:Leduc oil.jpg|thumb|left|The [[Leduc No. 1]] well, which blew in 1947, marked the beginning of series of petroleum-related [[economic booms]].]]
{{See also|History of Alberta|History of the petroleum industry in Canada}}

Alberta has always been an [[export-oriented economy]]. In line with [[Harold Innis]]' "[[Staples Thesis]]", the economy has changed substantially as different export commodities have risen or fallen in importance. In sequence, the most important products have been: fur, wheat and beef, and oil and gas.

The development of [[transportation in Alberta]] has been crucial to its historical economic development. The [[North American fur trade]] relied on [[birch-bark canoes]], [[York boats]], and [[Red River carts]] on age-old Native trails and [[buffalo trails]] to move furs out of, and European trade goods into, the region. Immigration into the province was eased tremendously by the building of the [[Canadian Pacific Railway]]'s [[transcontinental line]] across southern Alberta in 1880s. Commercial farming became viable in the area once the [[grain trade]] had developed technologies to handle the [[bulk cargo|bulk]] export of grain, especially [[hopper car]]s and [[grain elevator]]s. Oil and gas exports have been possible because of increasing [[pipeline transport|pipeline]] technology.

Prior to the 1950s, Alberta was a primarily agricultural economy, based on the export of [[grain trade|wheat]], [[beef]], and a few other agricultural products. The health of economy was closely bound up with the [[price of wheat]].

In 1947 a major [[oil field]] was discovered [[Leduc No. 1|near Edmonton]]. It was not the first petroleum find in Alberta, but it was large and spawned an industry that significantly altered the economy of the province (and coincided with growing American demand for energy). Since that time, Alberta's economic fortunes have largely tracked the [[price of oil]], and increasingly [[natural gas prices]]. When oil prices spiked during the [[1967 Oil Embargo]], [[1973 oil crisis]], and [[1979 energy crisis]], Alberta's economy boomed. However, during the [[1980s oil glut]] Alberta's economy suffered. Alberta boomed once again during the [[2003 to 2008 world oil market chronology|2003-2008 oil price spike]]. In July 2008 the price of oil peaked and began to decline, and Alberta's economy soon followed suit, with unemployment doubling within a year. By 2009 with natural gas prices at a long-term low, Alberta's economy was in poor health compared to before, although still relatively better than many other comparable jurisdictions. By 2012 natural gas prices were at a ten-year low and the Canadian dollar was highly valued compared to the U.S. dollar, but then oil prices recovered until June 2014.

The spin-offs from petroleum allowed Alberta to develop many other industries. Oilpatch-related manufacturing is an obvious example, but financial services and government services have also benefited from oil money.

A comparison of the development of Alberta's less oil and gas-endowed neighbours, Saskatchewan and Manitoba, reveals the role petroleum has played. Alberta was the least-populous of the three [[Prairie Provinces]] in the early 20th century, but by 2009, Alberta's population was 3,632,483, approximately three times as much as either Saskatchewan (1,023,810) or Manitoba (1,213,815).

==Employment==
Alberta's economy is a highly developed one in which most people work in services such as healthcare, government, or retail.<ref>{{Cite web| title = Job market trends and profiles |work=Alberta| access-date = September 9, 2019| date = 2018| url = https://www.alberta.ca/job-market-trends-profiles.aspx | archive-url = https://web.archive.org/web/20190909182248/https://www.alberta.ca/job-market-trends-profiles.aspx | url-status = dead | archive-date = September 9, 2019 }}</ref> Primary industries are also of great importance, however.

By March 2016 the unemployment rate in Alberta rose to 7.9%—<ref name="finance_alberta_2016_mar_11" /> its "highest level since April 1995 and the first time the province’s rate has surpassed the national average since December 1988."<ref name="finance_alberta_about_2016_mar_11">{{cite web | url=http://www.finance.alberta.ca/aboutalberta/at-a-glance/current-economy-indicators-at-a-glance.pdf | title=Alberta Economy: Indicators at a Glance | publisher=Treasury Board and Finance Economics and Revenue Forecasting | date=March 11, 2016 | access-date=March 16, 2016 | archive-url=https://web.archive.org/web/20160314172259/http://www.finance.alberta.ca/aboutalberta/at-a-glance/current-economy-indicators-at-a-glance.pdf | archive-date=March 14, 2016 | url-status=dead }}</ref> There were 21,200 fewer jobs than February 2015.<ref name="finance_alberta_2016_mar_11" /> The unemployment rate was expected to average 7.4% in 2016.<ref name="financealberta_2016_Feb">{{cite report | url=http://finance.alberta.ca/publications/budget/quarterly/2015/2015-16-3rd-Quarter-Fiscal-Update.pdf#page=12 |archive-url=https://ghostarchive.org/archive/20221009/http://finance.alberta.ca/publications/budget/quarterly/2015/2015-16-3rd-Quarter-Fiscal-Update.pdf#page=12 |archive-date=2022-10-09 |url-status=live | title=2015–16 Third Quarter Fiscal Update and Economic Statement | publisher=Department of Finance, Government of Alberta | date=February 2016 | access-date=March 16, 2016 |location=Edmonton, Alberta |pages=15}}</ref>{{rp|13}} The [[Canadian Association of Petroleum Producers]] (CAPP) claimed that Alberta lost 35,000 jobs in 2015–25,000 from the oil services sector and 10,000 from exploration and production.<ref name="huffington_2015">{{citation |title=Alberta Oilpatch Layoffs Total 35,000, Says CAPP |url=http://www.huffingtonpost.ca/2015/09/02/alberta-oilpatch-layoffs_n_8078660.html |work=The Huffington Post|location=Alberta |first=Michelle |last=Butterfield |date=September 2, 2015 |access-date=March 16, 2016}}</ref> Full-time employment increased by 10,000 in February 2016 after falling 20,000 in both December 2015 and January 2016. The natural resources industry lost 7,400 jobs in February. "Year-over-year (y/y), the goods sector lost 56,000 jobs, while the services sector gained 34,800."<ref name="finance_alberta_2016_mar_11">{{cite web | url=http://www.finance.alberta.ca/aboutalberta/labour-market-notes/current-labour-market-notes.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.finance.alberta.ca/aboutalberta/labour-market-notes/current-labour-market-notes.pdf |archive-date=2022-10-09 |url-status=live | title=Labour Market Notes Alberta: Reprieve in employment losses | publisher=Treasury Board and Finance Economics and Revenue Forecasting | date=March 11, 2016 | access-date=March 16, 2016}}</ref> In 2015 Alberta's population increased by 3,900.<ref name="finance_alberta_2016_mar_11" /> While Alberta had a reprieve in job loss in February 2016—up 1,400 jobs after losing jobs in October, November, December 2015 and January 2016—Ontario lost 11,200 jobs, Saskatchewan lost 7,800 jobs and New Brunswick lost 5,700 jobs.<ref name="finance_alberta_2016_mar_11" />

The unemployment rate in spring 2019 in Alberta was 6.7% with 21,000 jobs added in April; in Calgary it was 7.4%, in Edmonton it was 6.9%, in Northern Alberta it was 11.2%, and in Southern Alberta it was 7.8%.<ref name="StatsCan"/> By July 2019, the seasonally adjusted unemployment rate had increased to 7.0%, which represented an increase of 0.3% from the previous year.<ref name="economicdashboard"/> The unemployment rate in Alberta peaked in November 2016 at 9.1%. Its lowest point in a ten-year period from July 2009 to July 2019 was in September 2013 at 4.3%.<ref name="economicdashboard"/>

By August 2019, the employment number in Alberta was 2,344,000, following the loss of 14,000 full-time jobs in July, which represented that the "largest decline" in Canada according to Statistics Canada.<ref name="edmontonjournal_Wyton_20190909"/>

Employment by industry, Alberta – seasonally adjusted (000s)<ref>{{cite report |title=Alberta Labour Force Statistics August, 2019|url=https://open.alberta.ca/dataset/b754ca87-2e9b-4a80-b7b2-2cfef8e53ff4/resource/77e98b8a-102a-43fd-819c-95a3d817acee/download/lbr-public-package-2019-08.pdf |date=August 2019 |archive-url=https://web.archive.org/web/20190909185839/https://open.alberta.ca/dataset/b754ca87-2e9b-4a80-b7b2-2cfef8e53ff4/resource/77e98b8a-102a-43fd-819c-95a3d817acee/download/lbr-public-package-2019-08.pdf |archive-date=September 9, 2019}}</ref>
{| class="wikitable sortable"
|- style="background: #efefef;"
! scope="col" | Industries
! scope="col" | August 2019
! scope="col" | July 2019
! scope="col" | August 2018
|-
|All industries ||2,344.3 ||2,343.7 ||2,340.2
|-
|Goods-producing sector ||589.6 ||595.6 ||602.1
|-
|Agriculture ||49.9 ||50.7 ||48.5
|-
|Forestry, fishing, mining, oil and gas ||138.3 ||144.3 ||154.4
|-
|Utilities ||24.5 ||24.1 ||23.7
|-
|Construction ||241.9 ||242.1 ||246.5
|-
|Manufacturing ||134.9 ||134.5 ||129.0
|-
|Services-Producing Sector ||1,754.8 ||1,748.1 ||1,738.1
|-
|Trade ||339.3 ||340.0 ||337.1
|-
|Transportation and Warehousing ||139.4 ||140.0 ||138.3
|-
|Finance, Insurance, Real Estate and Leasing ||105.7 ||107.2 ||102.3
|-
|Professional, Scientific and Technical Services ||187.2 ||185.4 ||181.5
|-
|Business, Building and Other Support Services ||83.2 ||84.4 ||88.6
|-
|Educational Services ||157.2 ||157.7 ||160.7
|-
|Health Care and Social Assistance ||292.4 ||290.6 ||278.8
|-
|Information, Culture and Recreation ||79.0 ||74.3 ||78.7
|-
|Accommodation and Food Services ||140.4 ||136.7 ||146.6
|-
|Other Services ||115.1 ||118.2 ||116.7
|-
|Public Administration ||116.0 ||113.6 ||108.8

|}

===Extraction industries===
According to the Government of Alberta, the "mining and oil and gas extraction industry accounted for 6.1% of total employment in Alberta in 2017".<ref name="GovAB_2018">{{Cite journal |date=2017 |title=Industry Profiles 2018 Mining and Oil and Gas Extraction Industry |url=https://open.alberta.ca/dataset/f5a3586b-9fad-47a5-8741-e46cf5008d16/resource/9b026daf-1045-49bb-aad6-34996db59914/download/industry-profile-mining-oil-and-gas-extraction.pdf |journal=Alberta Government |pages=10}}</ref> By April 2019, there were about 145,100 people working directly with the oil and gas industry.<ref>{{Cite web| title=Canada lost 3,000 oil and gas jobs in April| work =Alaska Highway News| access-date = September 6, 2019| url= https://www.alaskahighwaynews.ca/business/canada-lost-3-000-oil-and-gas-jobs-in-april-1.23821922}}</ref> In 2013, there were 171,200 people employed in the mining and oil and gas extraction industry.<ref name="occinfo_alis_alberta_2016">{{cite web |date=2015 |title=Mining and Oil and Gas Extraction |url=http://occinfo.alis.alberta.ca/occinfopreview/industries/mining-and-oil-and-gas-extraction.aspx |access-date=April 16, 2022 |publisher=OCCinfo: Occupations and Educational Programs |archive-url=https://web.archive.org/web/20150719050243/http://occinfo.alis.alberta.ca/occinfopreview/industries/mining-and-oil-and-gas-extraction.aspx |archive-date=19 July 2015 |url-status=dead}}</ref>

In 2007 there were 146,900 people working in the mining and oil and gas extraction industry.<ref name="AB_energy_jobs_2007">{{citation |url=http://www.energy.alberta.ca/About_Us/1527.asp |title=About us |work=Alberta Energy |access-date=September 24, 2009 |archive-date=July 6, 2011 |archive-url=https://web.archive.org/web/20110706164531/http://www.energy.alberta.ca/About_Us/1527.asp |url-status=dead }}</ref> 
* Oil and Gas Extraction industry = 69,900
* Support Activities for Mining & Oil & Gas Extraction (primarily oil and gas exploration and drilling) = 71,700
* Mining other than oil and gas (mainly coal and mineral mining & quarrying) = 5,100

===Largest employers of Alberta===
According to ''[[Alberta Venture]]'' magazine's list of the 50 largest employers in the province, the largest employers are:
{| class="wikitable"
|-
! Rank (2012)<ref>{{Cite web |url=http://v250.albertaventure.com/largest-alberta-employers/?myyear=2011 |title=Alberta Venture 100 Largest Employers 2012 |access-date=December 3, 2012 |archive-url=https://web.archive.org/web/20120921075831/http://v250.albertaventure.com/largest-alberta-employers/?myyear=2011 |archive-date=September 21, 2012 |url-status=dead }}</ref>
! Rank (2010)<ref>{{Cite web |url=http://v250.albertaventure.com/largest-alberta-employers/?myyear=2009 |title=Alberta Venture 50 Largest Employers 2010 |access-date=December 3, 2012 |archive-url=https://web.archive.org/web/20130729005107/http://v250.albertaventure.com/largest-alberta-employers/?myyear=2009 |archive-date=July 29, 2013 |url-status=dead }}</ref>
! Rank (2007)<ref>{{Cite web |url=http://v250.albertaventure.com/largest-alberta-employers/?myyear=2006 |title=Alberta Venture 50 Largest Employers 2007 |access-date=December 3, 2012 |archive-url=https://web.archive.org/web/20130729005729/http://v250.albertaventure.com/largest-alberta-employers/?myyear=2006 |archive-date=July 29, 2013 |url-status=dead }}</ref>
! Employer
! Industry
! 2019 Employees (Total)
! 2012 Employees (Total)
! 2010 Employees (Total)
! 2007 Employees (Total)
! Head office
! Description
! Notes
|-
| 1
| 1
| *
| [[Alberta Health Services]]
| Healthcare
| 102,700<ref name="AHS_2019">{{citation |url=https://albertahealthservices.ca/about/about.aspx |work=Alberta Health Services |title=About |access-date=September 9, 2019}}</ref>
| 99,400
| 92,200
| see note
| Edmonton
| Provincial public health authority
| Created in 2008 by merging nine separate provincial health authorities.
|-
| 2
| 2
| 4.
| [[Safeway (Canada)|Canada Safeway Limited]]
| Wholesale and Retail Trade
|
| 30,000
| 30,000
| 34,318
| Calgary
| Food and drug retailer
| subsidiary of [[Sobeys]] Inc. since 2014, before that subsidiary of American chain
|-
| 3
| 6
| n/a
| [[Agrium Inc.]]
| Agri-business
| 15,200 (2016)<ref>[https://business.financialpost.com/commodities/mining/potash-corp-and-agrium-agree-to-merge-to-create-global-agricultural-giant-worth-36-billion FP]</ref>
| 14,800
| 11,153
| n/a
| Calgary
| Wholesale producer, distributor and retailer of agricultural products and services in North and South America
| n/a = not listed in 2007
|-
| 4
| 7
| 8
| [[University of Alberta]]
| Education
|
| 14,500
| 10,800
| 11,000
| Edmonton
| Publicly funded accredited university
| 
|-
| 5
| 4
| 29
| [[Canadian Pacific Railway]]
| Transportation
| 12,695 
| 14,169
| 14,970
| 15,232
| Calgary
| Railway and inter-modal transportation services
|
|-
| 6
| 5
| 31
| [[Suncor Energy]]
| Petroleum Resource Industry
| ~12,500<ref>{{cite report |title=Investor information Q1 2019 |date=May 1, 2019 |publisher=Suncor }}</ref>
| 13,026
| 12,978
| 5,800
| Calgary
| Petroleum extraction, refining, and retail
| Merged with [[Petro-Canada]] in 2009
|-
| 7
| 9
| 35
| [[Shaw Communications]]
| Communications
|
| 12,500
| 10,000
| 8,985
| Calgary
| Provider of digital telecommunications services [cable television / internet / telephony] and community television production facilities
|
|-
| 8
| 8
| 15
| [[Flint Energy Services Ltd.]]
| Energy
|
| 11,211
| 10,280
| 6,169
| Calgary
| Energy / Construction
|
|-
| 9
| 11
| n/a
| [[Stantec Inc.]]
| Professional Services
|
| 11,100
| 9,300
| n/a
| Edmonton
| Architecture/Engineering/Construction
| n/a = not listed in 2007
|-
| 10
| 12
| 9
| [[Calgary Board of Education]]
| Public Education
| 14,000
| 9,106
| 9,278
| 10,972
| Calgary
| Municipal K-12 Public Education School Board
|
|}

==Sectors==

===Oil and gas extraction industries===
[[Image:Alberta oil gas drilling well 023.jpg|thumb|Drilling rig in Alberta.]]
{{See also|Petroleum production in Canada|Natural gas in Canada}}

In 2018, Alberta's energy sector contributed over $71.5 billion to Canada's nominal gross domestic product.<ref name="NRCAN_20190907" /> In 2006, it accounted for 29.1% of Alberta's GDP;<ref name="GovAB_2018" />{{rp|3}} by 2012 it was 23.3%;<ref name="occinfo_alis_alberta_2016" /> in 2013, it was 24.6%,<ref name="GovAB_2017407" />{{rp|6}} and in 2016 it was 27.9%.<ref name="GovAB_2018" />{{rp|3}} According to [[Statistics Canada]], in May 2018, the oil and gas extraction industry reached its highest proportion of Canada's national GDP since 1985, exceeding 7% and "surpass[ing] banking and insurance".<ref name="CBC_Fletcher_20180731" /> with extraction of non-conventional oil from the oilsands reaching an "impressive", all-time high in May 2018.<ref name="CBC_Fletcher_20180731" /> With conventional oil extraction "climbed up to the highs from 2007", the demand for Canadian oil was strong in May.<ref name="CBC_Fletcher_20180731" />

Alberta is the largest producer of [[petroleum|conventional crude oil]], [[synthetic crude]], [[natural gas]] and gas products in the country. Alberta is the world's 2nd largest exporter of natural gas and the 4th largest producer.<ref>[http://www.gov.state.ak.us/trade/2003/tad/canada/canadaalberta.htm State of Alaska - Trade Report on Alberta] {{webarchive |url=https://web.archive.org/web/20061215031033/http://www.gov.state.ak.us/trade/2003/tad/canada/canadaalberta.htm |date=December 15, 2006 }}</ref> Two of the largest producers of [[petrochemicals]] in North America are located in central and north central Alberta. In both [[Red Deer, Alberta|Red Deer]] and [[Edmonton]], world class [[polyethylene]] and [[Vinyl group|vinyl]] manufacturers produce products shipped all over the world, and Edmonton's [[oil refinery|oil refineries]] provide the raw materials for a large [[petrochemical industry]] to the east of Edmonton. Since the early 1940s, Alberta had supplied oil and gas to the rest of Canada and the [[United States]]. The [[Athabasca River]] region produces oil for internal and external use. The [[Athabasca Oil Sands]] contain the largest proven reserves of oil in the world outside [[Saudi Arabia]].

The [[Athabasca Oil Sands]] (sometimes known as the Athabasca [[Tar sands]]) have estimated [[unconventional oil]] reserves approximately equal to the [[conventional oil]] reserves of the rest of the world, estimated to be {{convert|1.6|Toilbbl}}. With the development of new extraction methods such as [[steam-assisted gravity drainage]] (SAGD), which was developed in Alberta, bitumen and synthetic crude oil can be produced at costs close to those of conventional crude. Many companies employ both conventional [[surface mining|strip mining]] and non-conventional [[in situ]] methods to extract the [[bitumen]] from the oil sands. With current technology and at current prices, about {{convert|315|Goilbbl}} of bitumen are recoverable. [[Fort McMurray]], one of Canada's fastest growing cities, has grown enormously in recent years because of the large corporations which have taken on the task of oil production. As of late 2006 there were over $100 billion in oil sands projects under construction or in the planning stages in northeastern Alberta.

Another factor determining the viability of oil extraction from the oil sands was the price of oil. The [[oil price increases since 2003]] made it more than profitable to extract this oil, which in the past would give little profit or even a loss.

Alberta's economy was negatively impacted by the [[2016 oil glut|2015-2016 oil glut]] with a record high volume of worldwide oil [[inventory|inventories]] in storage,<ref name="Firzli"/> with global crude oil collapsing at near ten-year low prices.<ref name="G&M_Deloitte_2016"/><ref name="reuters_2016_Feb16"/><ref name="fortune_2016"/> The United States doubled its 2008 production levels mainly due to substantial improvements in [[tight oil|shale]] "[[fracking]]" technology, OPEC members consistently exceeded their production ceiling, and China experienced a marked slowdown in economic growth and crude oil imports.<ref name="G&M_Deloitte_2016"/><ref name="reuters_2016_Feb16"/><ref name="fortune_2016"/><ref name="NYT_2014">{{cite news |title=U.S. Oil Prices Fall Below $80 a Barrel |first=Clifford |last=Krassnov |date=November 3, 2014 |access-date=December 13, 2014 |url=https://www.nytimes.com/2014/11/04/business/energy-environment/us-oil-prices-fall-below-80-a-barrel.html |archive-url=https://ghostarchive.org/archive/20220101/https://www.nytimes.com/2014/11/04/business/energy-environment/us-oil-prices-fall-below-80-a-barrel.html |archive-date=January 1, 2022 |url-access=limited |newspaper=The New York Times}}{{cbignore}}</ref><ref name=glut>{{cite news |url=https://www.bloomberg.com/news/articles/2015-12-04/opec-maintains-crude-production-as-group-defers-output-target-ihryzilb |title=OPEC Won't Cut Production to Stop Oil's Slump |publisher=Bloomberg News |date=December 4, 2015}}</ref>

Mining and Oil and Gas Extraction Industry (2017)<ref name="GOV_AB_Profile_Extraction_2018">{{cite report |series=Industry Profiles 2018 |title=Mining and Oil and Gas Extraction Industry |url=https://work.alberta.ca/documents/industry-profile-mining-oil-and-gas-extraction.pdf |date=February 2018 |isbn=978-1-4601-3781-9 |issn= 2292-8960 |archive-url=https://web.archive.org/web/20190909194936/https://open.alberta.ca/dataset/f5a3586b-9fad-47a5-8741-e46cf5008d16/resource/9b026daf-1045-49bb-aad6-34996db59914/download/industry-profile-mining-oil-and-gas-extraction.pdf |archive-date=September 9, 2019 }}</ref>
 
{| class="wikitable"
! 
!Alberta
!Mining and Oil and Gas Extraction Industry 
|-
|Employment ||2,286,900 ||140,300 
|-
|Employment Share ||N/A ||6.1% 
|-
|Unemployment ||194,700 ||8,800 
|-
|Unemployment rate ||7.8% ||5.9%
|} 
*Data Source: Statistics Canada, Labour Force Survey, CANSIM Table 282–0008, 2017 "Employment share is obtained by dividing the number of employment in this industry by total employment in Alberta."<ref name="GOV_AB_Profile_Extraction_2018"/>

====Natural gas====
[[Natural gas]] has been found at several points, and in 1999, the production of [[natural gas liquids]] ([[ethane]], [[propane]], and [[butane]]s) totalled {{convert|172.8|Moilbbl}}, valued at $2.27 billion. Alberta also provides 13% of all the natural gas used in the United States.

Notable gas reserves were discovered in the 1883 near Medicine Hat.<ref>{{Cite web| title = Accidental Industry - Natural Gas - Alberta's Energy Heritage| access-date = September 9, 2019| url = http://history.alberta.ca/energyheritage/gas/creation-of-an-industry/accidental-industry/default.aspx}}</ref><ref name="energy">{{citation |url=http://www.energy.gov.ab.ca/About_Us/984.asp |title=Alberta Energy: Energy Facts |url-status=dead |access-date=June 21, 2008 |archive-url=https://web.archive.org/web/20080329091022/http://www.energy.gov.ab.ca/About_Us/984.asp |archive-date=March 29, 2008 }}</ref> The town of [[Medicine Hat, Alberta|Medicine Hat]] began using gas for lighting the town, and supplying light and fuel for the people, and a number of industries using the gas for manufacturing.

One of North America's benchmarks is Alberta gas-trading price—the AECO "C" spot price.<ref name="GOV_AB_2019"/>

In 2018, 69% of the marketable natural gas in Canada was produced in Alberta.<ref name="NRCAN_20190908">{{Cite web| work = NRCAN| title = Natural gas facts| access-date = September 9, 2019| date = September 8, 2019| url = https://www.nrcan.gc.ca/natural-gas-facts/20067| archive-date = September 11, 2019| archive-url = https://web.archive.org/web/20190911190044/https://www.nrcan.gc.ca/natural-gas-facts/20067| url-status = dead}}</ref> Forty nine per cent of Alberta's natural gas production is consumed in Alberta.<ref name="GOV_AB_2019">{{Cite web| title = Natural gas overview| access-date = September 9, 2019| url = https://www.alberta.ca/natural-gas-overview.aspx |work=Government of Alberta}}</ref> In Alberta, the average household uses {{convert|135|GJ}} of natural gas annually.<ref>{{Citation| title = Electricity and natural gas contracts | access-date = September 9, 2019| url = https://open.alberta.ca/dataset/2cda2fa1-21c4-45d8-8537-fae0c92de94a/resource/799a024e-4861-44f6-bb4d-d16cb63063b1/download/electricity-and-natural-gas-contracts.pdf |date=2018}}</ref> Domestic demand for natural gas is divided across sectors, with the highest demand—83% coming from "industrial, electrical generation, transportation and other sectors," and 17 percent going towards residential and commercial sectors.<ref name="GOV_AB_2019"/> 
Of the provinces, Alberta is the largest consumer of natural gas at 3.9 billion cubic feet per day.<ref name="NEB_20171207">{{cite web |title=NEB – Provincial and Territorial Energy Profiles – Canada |url=https://www.neb-one.gc.ca/nrg/ntgrtd/mrkt/nrgsstmprfls/cda-eng.html |website=www.neb-one.gc.ca |publisher=National Energy Board - Government of Canada |date=December 7, 2017}}</ref>

By August 2019, the ''Financial Post'' said that "AECO daily and monthly natural gas prices" were at the lowest they have been since 1992.<ref name="FinPo_Morgan_20190809">{{Cite web| title = Alberta natural gas producers struggle through worst prices in 26 years, but outlook is improving |work= Financial Post| access-date = September 9, 2019| date = August 9, 2018| url = https://business.financialpost.com/commodities/energy/alberta-natural-gas-producers-struggle-through-worst-prices-in-26-years-but-outlook-is-improving |first=Geoffrey |last=Morgan}}</ref> Canada's largest natural gas producer, [[Canadian Natural Resources Ltd.]], announced in early August that it had "shut in gas production of 27,000 million cubic feet per day because of depressed prices.<ref name="FinPo_Morgan_20190809"/> Previously natural gas pipeline drilled in the southern Alberta and shipped to markets in Eastern Canada. By 2019, the entire natural gas industry had was primarily operating in northwestern Alberta and northeastern B.C., which resulted in strained infrastructure. New systems will not be complete until 2021 or 2023.<ref name="FinPo_Morgan_20190809"/> In September 25, 2017 Alberta's benchmark AECO natural gas prices fell into "negative territory – "meaning producers have had to pay customers to take their gas".<ref name="FinPo_Morgan_20171012">{{Cite web |first=Geoffrey |last=Morgan| title = Natural gas prices are so bad in Alberta producers are having to pay customers to take it |work=Financial Post| access-date = September 9, 2019| date = October 12, 2017| url = https://business.financialpost.com/commodities/canadian-natural-gas-prices-enter-negative-territory-amid-pipeline-outages}}</ref> It happened again in early October with the price per gigajoule dropping to -7 cents.<ref name="FinPo_Morgan_20171012"/> TransCanada (now TC Energy Corp)—which "owns and operates Alberta's "largest natural gas gathering and transmission system, interrupted its pipeline service in the fall of 2017 to complete field maintenance on the Alberta system.<ref name="FinPo_Morgan_20171012"/> In July 2018, RS Energy Group's energy analyst Samir Kayande, said that faced with a glut of natural gas across North America, the continental market price was $3 per gigajoule.<ref name="CBC_Edwardson_20190718">{{cite news| last=Edwardson| date = July 18, 2019| first =Lucie | title = Energy analyst weighs in on Alberta natural gas producers seeking government intervention |work= CBC News | access-date = September 9, 2019| url = https://www.cbc.ca/news/canada/calgary/natural-gas-alberta-production-cuts-1.5215816}}</ref> Alberta is "awash" with natural gas but faces pipeline bottlenecks.<ref name="CBC_Edwardson_20190718"/> CEOs of nine Alberta natural gas producers requested the Kenney government to mandate production cuts to deal with the crisis.<ref name="CBC_Edwardson_20190718"/> On June 30, the AECO price of gas dropped to 11 cents per gigajoule, because of maintenance issues with the pipeline giant TC Energy Corp.<ref name="FinPo_20190716">{{cite news| title = Alberta natural gas producers propose limiting production in exchange for royalty credits |work= Financial Post| access-date = September 9, 2019| date = July 16, 2019| url = https://business.financialpost.com/commodities/energy/alberta-natural-gas-producers-propose-limiting-production-in-exchange-for-royalty-credits}}</ref>

In 2003 Alberta produced {{convert|4.97|Tcuft}} of marketable natural gas.<ref name=GOV_AB_2004>{{citation |work=Government of Alberta |url=http://www.energy.gov.ab.ca/docs/aboutus/pdfs/Alberta_Energy_Overview.pdf |title=Energy Overview |date=2004 |archive-url=https://web.archive.org/web/20061004154020/http://www.energy.gov.ab.ca/docs/aboutus/pdfs/Alberta_Energy_Overview.pdf |archive-date=October 4, 2006 }}</ref> That year, 62% of Alberta's natural gas was shipped to the United States, 24% was used within Alberta, and 14% was used in the rest of Canada.<ref name=GOV_AB_2004/> In 2006, Alberta consumed {{convert|1.45|Tcuft}} of natural gas. The rest was exported across Canada and to the United States.{{citation needed|date=September 2019}} Royalties to Alberta from natural gas and its byproducts are larger than royalties from crude oil and bitumen.{{citation needed|date=September 2019}} In 2006, there were 13,473 successful natural gas wells drilled in Alberta: 12,029 conventional gas wells and 1,444 [[coalbed methane]] wells.{{citation needed|date=September 2019}} There may be up to {{convert|500|Tcuft}} of coalbed methane in Alberta, although it is unknown how much of this gas might be recoverable.{{citation needed|date=September 2019}} Alberta has one of the most extensive natural gas systems in the world as part of its energy infrastructure, with {{convert|39000|km}} of energy related [[Pipeline transport|pipelines]].{{citation needed|date=September 2019}}

===Coal===
[[File:Atlas coal mine.jpg|thumb|Remains of the former Atlas Coal Mine, near Drumheller, now a [[National Historic Site of Canada]].]]
{{See also|Coal in Alberta}}
[[Coal in Alberta|Coal has been mined in Alberta]] since the late 19th century. Over 1800 mines have operated in Alberta since then.<ref name="energy" />

The coal industry was vital to the early development of several communities, especially those in the foothills and along deep river valleys where coal was close to the surface.

Alberta is still a major coal producer, every two weeks Alberta produces enough coal to fill the [[Sky Dome]] in Toronto.<ref name="energy" />

Much of that coal is burned in Alberta for electricity generation. By 2008, Alberta used over 25 million tonnes of coal annually to generate electricity.<ref name="energy" /> However, Alberta is set to retire coal power by 2023, ahead of 2030 provincial deadline.<ref>{{cite news |last1=Healing |first1=Dan |title=Alberta set to retire coal power by 2023, ahead of 2030 provincial deadline |url=https://globalnews.ca/news/7502144/alberta-coal-power-ahead-of-schedule/ |agency=Canadian Press |publisher=Global News |date=December 4, 2020}}</ref>

Alberta has vast coal resources and 70 per cent of Canada's coal reserves are located in Alberta. This amounts to 33.6 [[Gigatonnes]].<ref name="energy" />

Vast beds of coal are found extending for hundreds of miles, a short distance below the surface of the plains. The coal belongs to the [[Cretaceous]] beds, and while not so heavy as that of the [[Coal Measures]] in England is of excellent quality{{Citation needed|date=June 2008}}. In the valley of the [[Bow River]], alongside the [[Canadian Pacific Railway]], valuable beds of [[anthracite]] coal are still worked. The usual coal deposits of the area of [[bituminous]] or semi-bituminous coal. These are largely worked at [[Lethbridge]] in southern Alberta and [[Edmonton]] in the centre of the province. Many other parts of the province have pits for private use.

===Electricity===
{{See also|Electricity policy of Alberta}}

{{As of|2016|6}}, Alberta's generating capacity was 16,261&nbsp;[[Megawatt|MW]],<ref name="energy.alberta.ca">{{cite web| url = http://www.energy.alberta.ca/electricity/682.asp| title = Energy| access-date = November 7, 2016| archive-date = August 26, 2010| archive-url = https://web.archive.org/web/20100826084312/http://www.energy.alberta.ca/Electricity/682.asp| url-status = dead}}</ref> and Alberta has about {{convert|26000|km|-2}} of transmission lines.<ref>{{cite web| url = https://www.aeso.ca/grid/about-the-grid/| title = About the grid » AESO}}</ref>

Alberta has 1491 megawatts of [[wind power]] capacity.<ref name="energy.alberta.ca"/>

Production of electricity in Alberta in 2016 by source:
{| class="wikitable"
|-
! Generation !! GWh !! Share by Fuel
|-
| Coal || 42,227 || 50.2%
|-
| Natural Gas || 33,184 || 39.4%
|-
| Hydro || 1,773 || 2.1%
|-
| Wind || 4,408 || 5.2%
|-
| Biomass || 2,201 || 2.6%
|-
| Others || 338 || 0.4%
|-
| Total || 84,132 || 100%
|}

Alberta has added 9,000 MW of new supply since 1998.<ref name="energy.alberta.ca"/>

Peak for power use in one day was set on July 9, 2015&nbsp;– 10,520&nbsp;MW.<ref>{{cite web| url = http://www.cbc.ca/news/canada/calgary/power-consumption-record-set-as-temperature-soars-in-alberta-1.3145637| title = Power consumption record set as temperature soars in Alberta {{!}} CBC News}}</ref>

===Mineral mining===
Building stones mined in Alberta include [[Rundle stone]], and [[Paskapoo sandstone]].

Diamonds were first found in Alberta in 1958, and many stones have been found since, although to date no large-scale mines have been developed.<ref name="energy" />

===Manufacturing===
The Edmonton area, and in particular [[Nisku, Alberta|Nisku]] is a major centre for manufacturing oil and gas related equipment. As well Edmonton's [[Refinery Row (Edmonton)|Refinery Row]] is home to a petrochemical industry.

According to a 2016 Statistics Canada report Alberta's manufacturing sales year-over-year sales fell 13.2 per cent, with a loss of almost four per cent from December to January. Alberta's economy continued to shrink because of the collapse of the oil and gas sector. The petroleum and coal product manufacturing industry is now third— behind food and chemicals.<ref name="CBC_manufacturing_2016">{{cite web | url=http://www.cbc.ca/news/alberta-manufacturing-sales-1.3493988 | title=Alberta manufacturing sales plunge 13% in year as most provinces see upswing StatsCan says sales rose in 16 of 21 industries across Canada while Alberta saw 4% drop last month | publisher=CBC | date=March 16, 2016 | access-date=March 16, 2016 | author=Gibson, John}}</ref>

===Biotechnology===
Several companies and services in the biotech sector are clustered around the University of Alberta, for example [[ColdFX]].

===Food processing===
Owing to the strength of agriculture, food processing was once a major part of the economies of Edmonton and Calgary, but this sector has increasingly moved to smaller centres such as [[Brooks, Alberta|Brooks]], the home of [[XL Foods]], responsible for one third of Canada's beef processing in 2011.

===Transportation===
[[File:WestJetHQ.jpg|thumb|400px|Headquarters of the airline [[WestJet]], in Calgary.]]
Edmonton is a major distribution centre for northern communities, hence the nickname "Gateway to the North". Edmonton is one of [[CN Rail]]'s most important hubs. Since 1996, [[Canadian Pacific Railway]] has its headquarters in downtown Calgary.

[[WestJet]], Canada's second largest air carrier, is headquartered in Calgary, by [[Calgary International Airport]], which serves as the airline's primary hub.<ref>[https://archive.today/20120707101103/http://c3dsp.westjet.com/guest/contacts/contactUs.jsp;jsessionid=g7RhKJ4H9Rvpn1VJBLFv4GZpJFpLFY1THj2vRHZJPSdwKyRB1mPG!-1091378010 Contact Us]. ''[[WestJet]]''. Retrieved on May 20, 2009.</ref> Prior to its dissolution, [[Canadian Airlines]] was headquartered in Calgary by the airport.<ref>{{cite web |url=http://www.cdnair.ca/eng/corp/01corp/index.html |title=Investor & Financial Information |url-status=deviated |archive-url=https://web.archive.org/web/20000303181624/http://www.cdnair.ca/eng/corp/01corp/index.html |archive-date=March 3, 2000 }}. ''[[Canadian Airlines]]''. March 3, 2000. Retrieved on May 20, 2009.</ref> Prior to its dissolution, [[Air Canada]] subsidiary [[Zip (airline)|Zip]] was headquartered in Calgary.<ref>Pigg, Susan. "[https://pqasb.pqarchiver.com/thestar/access/421016591.html?dids=421016591:421016591&FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+22%2C+2003&author=Susan+Pigg&pub=Toronto+Star&desc=Zip%2C+WestJet+in+fare+war+that+could+hurt+them+both+%3B+Move+follows+competition+bureau+ruling+Battle+could+intensify+when+Zip+flies+eastward&pqatl=google Zip, WestJet in fare war that could hurt them both; Move follows competition bureau ruling Battle could intensify when Zip flies eastward] {{Webarchive|url=https://web.archive.org/web/20130207091041/http://pqasb.pqarchiver.com/thestar/access/421016591.html?dids=421016591:421016591&FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+22%2C+2003&author=Susan+Pigg&pub=Toronto+Star&desc=Zip%2C+WestJet+in+fare+war+that+could+hurt+them+both+%3B+Move+follows+competition+bureau+ruling+Battle+could+intensify+when+Zip+flies+eastward&pqatl=google |date=February 7, 2013 }}." ''[[Toronto Star]]''. January 22, 2003. Business C01. Retrieved on September 30, 2009.</ref>

===Agriculture and forestry===
[[Image:Grain Elevator 047.jpg|thumb|200px|left|Grain elevator in [[southern Alberta]]]]

==== Agriculture ====
[[File:Gartly Alberta Grain Elevator (9873577605).jpg|frameless|right]]
[[File:Red Barn (9242561429).jpg|frameless|right]]
[[File:Iconic Barn and Hay Bale - panoramio.jpg|frameless|right]]
[[File:Canola in Alberta Canada.jpg|frameless|right]]
{{See also|Agriculture in Canada}}
In the past, [[cattle]], [[horse]]s, and [[domestic sheep|sheep]] were reared in the southern prairie region on ranches or smaller holdings. Currently Alberta produces cattle valued at over $3.3 billion, as well as other livestock in lesser quantities. In this region [[irrigation]] is widely used. [[Wheat]], accounting for almost half of the $2 billion agricultural economy, is supplemented by [[canola]],<ref name="Canola" /> [[barley]], [[rye]], [[sugar beets]], and other [[mixed farming]]. In 2011, Alberta producers seeded an estimated total of {{convert|17900000000|acres|e9ha sqmi|abbr=off}} to [[spring wheat]], [[durum]], barley, oats, [[mixed grains]], [[triticale]], canola and [[dry peas]]. Of the total seeded area, 94 per cent was harvested as grains and [[oilseeds]] and six per cent as [[greenfeed]] and [[silage]].<ref>{{citation |url=http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/sdd14009 |title=Alberta 2011 Greenfeed and Silage Production Survey Results |date=2011 |work=Department of Agriculture, Government of Alberta}}</ref> [[Saudi Arabia]] is a major export target especially for wheat and processed potato products. SA having decided to phase out their own [[forage]] and [[cereal]] production, Alberta expects this to be an opportunity to fill [[livestock feed]] demand in the kingdom.<ref name="SA-Alberta">{{cite web | title=Saudi Arabia {{ndash}} Alberta Relations | date=2016 | url=http://open.alberta.ca/dataset/64be57f1-fa85-4e10-bd38-ca98564535a3/resource/7c281e43-7fc8-4239-a77a-ea49650a41bc/download/saudiarabia-ab.pdf | author=[[Alberta Ministry of Economic Development and Trade]]}}</ref>

[[Agriculture]] has a significant position in the province's economy. Over three million [[cattle]] are residents of the province at one time or another,<ref>{{citation |url=http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/rsb11006 |title=Alberta Livestock Inspections |date=August 2006 |work=Department of Agriculture, Government of Alberta |access-date=November 5, 2007 |archive-url=https://web.archive.org/web/20110815131438/http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/rsb11006 |archive-date=August 15, 2011 |url-status=dead }}</ref> and Albertan beef has a healthy worldwide market. Although beef could also be a major export to Saudi Arabia, as with wheat and potatoes above, [[market access]] is lacking at the moment.<ref name="SA-Alberta" /> Nearly one half of all Canadian beef is produced in Alberta. Alberta is one of the prime producers of plains [[American Bison|buffalo (bison)]] for the consumer market. [[domestic sheep|Sheep]] for [[wool]] and [[Lamb (food)|lamb]] are also [[sheep farm|raised]].

[[Wheat]] and [[canola]] are primary farm crops, with Alberta leading the provinces in spring wheat production, with other [[cereal|grains]] also prominent. Much of the farming is dryland farming, often with fallow seasons interspersed with cultivation. Continuous cropping (in which there is no fallow season) is gradually becoming a more common mode of production because of increased profits and a reduction of soil erosion. Across the province, the once common [[grain elevator]] is slowly being lost as rail lines are decreased and farmers now truck the grain to central points.

Clubroot (''[[Plasmodiophora brassicae]]'') is a costly disease of ''[[Brassicaceae]]'' here including [[canola]].<ref name="Canola" /> In several experiments by Peng ''et al.'', out of [[fungicide]]s, [[biofungicide]]s, [[inoculation]] with [[beneficial microbe]]s, [[cultivar resistance]], and [[crop rotation]], only [[crop disease resistance|genetic resistance]] combined with more than two years rotation worked {{endash}} ''susceptible'' cultivars rotated with other crops did not produce enough improvement.<ref name="Canola">
   {{Unbulleted list citebundle
      |{{*}} {{cite journal | date=2014 | volume=36 | issue=sup1 | publisher=[[Taylor & Francis]] ([[Agriculture and Agri-Food Canada]]) | journal=[[Canadian Journal of Plant Pathology]] | issn=0706-0661 | last1=Peng | first1=Gary | last2=Lahlali | first2=Rachid | last3=Hwang | first3=Sheau-Fang | last4=Pageau | first4=Denis | last5=Hynes | first5=Russell K. | last6=McDonald | first6=Mary Ruth | last7=Gossen | first7=Bruce D. | last8=Strelkov | first8=Stephen E. | title=Crop rotation, cultivar resistance, and fungicides/biofungicides for managing clubroot (''Plasmodiophora brassicae'') on canola | doi=10.1080/07060661.2013.860398 | pages=99–112 | bibcode=2014CaJPP..36S..99P | s2cid=85013123}}
      |{{*}} {{cite journal | date=2014 | volume=36 | issue=sup1 | publisher=[[Taylor & Francis]] ([[Canadian Phytopathological Society]]) | journal=[[Canadian Journal of Plant Pathology]] | issn=0706-0661 | last1=Hwang | first1=S.-F. | last2=Howard | first2=R. J. | last3=Strelkov | first3=S. E. | last4=Gossen | first4=B. D. | last5=Peng | first5=G. | title=Management of clubroot (''Plasmodiophora brassicae'') on canola (''Brassica napus'') in western Canada | doi=10.1080/07060661.2013.863806 | pages=49–65 | bibcode=2014CaJPP..36S..49H | s2cid=85393051}}
      |{{*}} {{cite journal | year=2018 | volume=101 | publisher=[[Elsevier]] ([[European Society for Agronomy]]) | last1=Hegewald | journal=[[European Journal of Agronomy]] | issn=1161-0301 | first1=Hannes | last2=Wensch-Dorendorf | first2=Monika | last3=Sieling | first3=Klaus | last4=Christen | first4=Olaf | title=Impacts of break crops and crop rotations on oilseed rape productivity: A review | doi=10.1016/j.eja.2018.08.003 | pages=63–77 | bibcode=2018EuJAg.101...63H | s2cid=92683017}}
      |{{*}} {{cite journal | issue=1 | date=2018 | volume=9 | publisher=[[Taylor & Francis]] | journal=[[Virulence (journal)|Virulence]] | issn=2150-5594 | last1=Pérez-López | first1=Edel | last2=Waldner | first2=Matthew | last3=Hossain | first3=Musharaf | last4=Kusalik | first4=Anthony J. | last5=Wei | first5=Yangdou | last6=Bonham-Smith | first6=Peta C. | last7=Todd | first7=Christopher D. | title=Identification of ''Plasmodiophora brassicae'' effectors — A challenging goal | doi=10.1080/21505594.2018.1504560 | pages=1344–1353 | pmid=30146948 | pmc=6177251 | s2cid=52090181}}
      |{{*}} {{cite journal | publisher=[[Taylor & Francis]] ([[Canadian Phytopathological Society]]) | journal=[[Canadian Journal of Plant Pathology]] | last1=Gossen | first1=Bruce D. | last2=Carisse | first2=Odile | last3=Kawchuk | first3=Lawrence M. | last4=Van Der Heyden | first4=Hervé | last5=McDonald | first5=Mary Ruth | title=Recent changes in fungicide use and the fungicide insensitivity of plant pathogens in Canada | volume=36 | issue=3 | date=2014-07-03 | issn=0706-0661 | doi=10.1080/07060661.2014.925506 | pages=327–340 | bibcode=2014CaJPP..36..327G | s2cid=85040709}}
   }}
</ref>

Alberta is the leading [[beekeeping]] province of Canada, with some beekeepers wintering [[Beehive (beekeeping)|hive]]s indoors in specially designed barns in southern Alberta, then migrating north during the summer into the [[Peace River (Alberta)|Peace River]] valley where the season is short but the working days are long for [[Western honey bee|honeybee]]s to produce honey from [[clover]] and [[fireweed]]. [[Hybrid (biology)|Hybrid]] [[canola]] also requires [[bee]] [[pollination]], and some beekeepers service this need.

==== Forestry ====
{{see also|Pulp and paper industry in Canada|Alberta Forest Products Association}}

The vast northern [[forest]] reserves of [[softwood]] allow Alberta to produce large quantities of [[lumber]], [[Oriented strand board|oriented strand board (OSB)]] and [[plywood]], and several plants in northern Alberta supply North America and the [[Pacific Rim]] [[nation]]s with bleached [[wood pulp]] and [[newsprint]].

In 1999, [[lumber]] products from Alberta were valued at $4.1 billion of which 72% were exported around the world. Since forests cover approximately 59% of the province's land area, the government allows about {{convert|23.3|e6m3}} to be harvested annually from the forests on public lands.

===Services===
Despite the high profile of the [[extractivism|extractive industries]], Alberta has a mature economy and most people work in services. In 2014 there were 1,635.8 thousand people employed in the services-producing sector. Since then, the number has steadily increased to 1754.8 thousand jobs by August 2019, which is an increase of 16.7 thousand jobs from August 2018<ref name="statcan_2016_services">{{cite web|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410035501|title=Employment by industry, monthly, seasonally adjusted (x 1,000)|date=June 27, 2018 |publisher=Statistics Canada|access-date=September 26, 2019}}</ref> This includes wholesale and retail trade; transportation and warehousing; finance, insurance, real estate, rental and leasing; professional, scientific and technical services; business, building and other support services; educational services; health care and social assistance; information, culture and recreation; accommodation and food services; other services (except public administration) and public administration.<ref name="statcan_2016_services" />

====Finance====
The [[TSX Venture Exchange]] is headquartered in Calgary. The city has the second highest number of corporate head offices in Canada after Toronto, and the financial services industry in Calgary has developed to support them. All major banks including the [[Big Five (banks)|Big Five]] maintain corporate offices in Calgary, along with smaller banks such as [[Equitable Bank|Equitable Group]]. Recently there has also been a number of [[Financial technology|fintech]] companies founded in Calgary such as the [[National Digital Asset Exchange]] and [[Neo Financial]], founded by the [[SkipTheDishes|Skip-the-Dishes]] team.<ref>{{Cite web|title=Neo Financial|url=https://www.neofinancial.com/}}</ref><ref>{{cite news|last=Stephenson|first=Amanda|title=Calgary companies breaking ground in hot fintech sector|work=Calgary Herald|url=https://calgaryherald.com/business/local-business/calgary-companies-breaking-ground-in-hot-fintech-sector}}</ref>

One of Canada's largest [[Accounting network|accounting firms]], [[MNP LLP]], is also headquartered in Calgary.<ref>{{cite web |title=Head Office |url=https://www.mnp.ca/en/offices/head-office |website=MNP LLP |access-date=March 12, 2022}}</ref>

Edmonton hosts the headquarters of the only major Canadian banks west of Toronto: [[Canadian Western Bank]], and [[ATB Financial]], as well as the only province-wide [[credit union]], [[Servus Credit Union]].

====Government====
Despite Alberta's reputation as a "small government" province, many health care and education professionals are lured to Alberta from other provinces by the higher wages the Alberta government is able to offer because of oil revenues. In 2014 the median household income in Alberta was $100,000 with the average weekly wage at $1,163—23 per cent higher than the Canadian national average.<ref name="CBC_2015_wages">{{cite web | url=http://www.cbc.ca/news/business/alberta-wages-almost-25-higher-than-canadian-average-1.2981768 | title=Alberta wages almost 25% higher than Canadian average: Economists, politicians and business leaders seek ways to bring wages down | publisher=CBC | date=March 5, 2015 | access-date=March 16, 2016 | author=Johnson, Tracy}}</ref>

In their May 2018 report co-authored by [[C. D. Howe Institute]]'s President and CEO, [[William B.P. Robson]], evaluating "the budgets, estimates and public accounts" of 2017/18 fiscal year that were tabled by senior governments in the Canadian provinces and the federal government in terms of reporting financial information, appropriately, with transparency, and in a timely fashion, Alberta and New Brunswick ranked highest.<ref name="cdhowe_20180501">{{cite report |url=https://www.cdhowe.org/sites/default/files/attachments/research_papers/mixed/Commentary_511.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.cdhowe.org/sites/default/files/attachments/research_papers/mixed/Commentary_511.pdf |archive-date=2022-10-09 |url-status=live |date=May 1, 2018 |title=The Numbers Game: Rating the Fiscal Accountability of Canada's Senior Governments|publisher=[[C. D. Howe Institute]] |location=Toronto, Ontario |pages=24 |series=commentary |number=511 |first1=William B.P. |last1=Robson |first2=Farah |last2=Omran |isbn= 978-1-987983-66-1 |issn= 1703-0765}}</ref>{{rp|1}} The report also said that, prior to 2016, Alberta had scored poorly in comparison with other provinces, because of "confusing array of "operating," "saving" and "capital" accounts that were not [[Public Sector Accounting Standards|Public Sector Accounting Standards (PSAS)]] consistent."<ref name="cdhowe_20180501"/>{{rp|12}} but since 2016, Alberta has received A-plus grades.<ref name="cdhowe_20180501"/>{{rp|12}} The report said that Alberta and New Brunswick in FY2017 provided "straightforward reconciliations of results with budget intentions, their auditors record no reservations, and their budgets and public accounts are timely."<ref name="cdhowe_20180501"/>{{rp|12}}

===Technology===
Alberta has a burgeoning [[high tech]] sector, including prominent technology companies [[iStockPhoto]], [[Solium|Shareworks]], [[Benevity]], and [[Attabotics]] in Calgary, and [[Bioware]] and [[AltaML]] in Edmonton.<ref>{{cite news |last=Legge |first=Adam |title=Opinion: To stimulate innovation and growth in Alberta, we need the A-Prize |url=https://calgaryherald.com/opinion/columnists/opinion-to-stimulate-innovation-and-growth-in-alberta-we-need-the-a-prize |newspaper=Calgary Herald |date=January 13, 2020 |access-date=February 15, 2020}}</ref> Growth in Calgary's technology sector, particularly at [[Benevity]], fueled predictions of a modest economic recovery in February 2020.<ref name="Varcoe">{{cite news |title=Varcoe: 'It's a little bit of a comeback story' as modest economic recovery expected in 2020 |url=https://calgaryherald.com/opinion/columnists/varcoe-new-year-will-ring-in-renewed-optimism-for-alberta-economy |last=Varcoe |first=Chris |newspaper=Calgary Herald |date=December 20, 2019 |access-date=February 15, 2020}}</ref>

==See also==
* [[Economy of Canada]]
* [[Energy policy of Canada]]
* [[Economy of Lethbridge]]
* [[Canadian Oil Patch]], for the petroleum industry
* [[History of the petroleum industry in Canada]]
* [[Canada's Global Markets Action Plan]]
* [[Free trade agreements of Canada]]

==References==
{{Reflist}}

==External links==
{{Commons category}}
* [http://archives.cbc.ca/IDD-1-73-378/politics_economy/alberta_oil/ CBC Digital Archives - Striking Oil in Alberta]

{{Canada topic|Economy of}}
{{Topics on Alberta}}

{{DEFAULTSORT:Economy Of Alberta}}
[[Category:Economy of Alberta| ]]