Oil and Gas Industry
Energy is the engine of Alberta's economy. Energy related royalty revenues account for about one-third (about $14.7192 billion in 2005-2006) of the total revenue collected by the Province. These revenues help to keep Alberta's overall taxes low, and are critical to the delivery of public programs, such as health and education. In 2005, energy resource exports accounted for $57 billion of Alberta's exports (about 66% of Alberta's total exports of goods and services). As well, energy accounts for almost one quarter of the province's GDP. Nearly one in every six workers in Alberta is employed directly or indirectly in the Province's energy sector.
Albertans own 81 per cent of the province's oil, natural gas and other mineral resources and the Government of Alberta excels in managing the development and use of these resources in a responsible and appropriate manner to the benefit of all Albertans. Environmental management, financial management, research and technology and other areas of expertise combine to leverage energy resources to their full value in attracting and developing new business and expertise.
Red Deer produces world class polyethylene and vinyl shipped all over the world.
One of the largest petrochemical clusters in North America can be found in Central Alberta, just 15 km east of Red Deer. The NOVA Chemicals Joffre site produces ethylene and polyethylene. Their three ethylene plants take the ethane which has been stripped out of natural gas and put it through "cracking" furnaces in order to produce ethylene.
Ethylene is used as a building block to make plastics, antifreeze, film, fibres, and other products. Much of the ethylene produced at the facility is sold to other chemical firms but over thirty percent is used right at the Red Deer/Joffre site in the production of polyethylene. A number of major employers (including DOW, BP Petroleum, Agrium, and Praxair) have located facilities adjacent to the NOVA site to capitalize on peripheral manufacturing opportunities.
"Central Alberta is the source of a strong talent pool from which we are able to draw workers. The surrounding communities including Red Deer and Lacombe offer great lifestyle options for employees. The excellent technical knowledge and strong work ethic of people at these facilities have been—and continue to be—a key to their success."
– Harry Van Zeist, Vice President, NOVA Chemicals.