Philip Cross, Statistics Canada economist and manager of current analysis, said the $19.7 billion in expected oilsands spending reflects "a fundamental change in the Canadian economy.
"That one small little area of Alberta is attracting more investment than every manufacturing industry across the country."
At the same time, StatsCan said total investment in Alberta will climb 3.8 per cent in 2008 to more than $83.8 billion, pushed upwards by a 23 per cent surge in non-conventional energy projects -- primarily the oilsands.
It places Alberta far ahead of Quebec's $60 billion and not far behind Ontario, at $106 billion.
Thursday, February 28, 2008
Oilsands growth phenomenal
This morning's Calgary Herald notes that the Oilsands development in Alberta will oustrip growth in Quebec and Ontario.
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