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Rebounding and Rebuilding: The 2017 Alberta Outlook The Conference Board of Canada, June 1, 2017 Recorded Webinar by Pedro Antunes , Marie-Christine Bernard

Rebounding and Rebuilding: The 2017 Alberta Outlook

The Conference Board of Canada, June 1, 2017
Recorded Webinar by Pedro Antunes , Marie-Christine Bernard

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Following a deep two-year recession, Alberta’s oil and gas industry seems to have staunched the bleeding and put the province’s economy on the road to recovery. As a result, Alberta’s economy is expected to come out of the recession and lead all provinces in economic growth in 2017. In this webinar, find out why The Conference Board of Canada is projecting that the economy is growing again, but has some way to go toward a full rebound. Although investment growth in the energy sector will turn around, it will remain sluggish. However, real total exports are expected to increase strongly this year. This growth in oil exports and the recovery in investment will provide relief to the business sector, boost government coffers, and help return provincial employment to pre-commodity-shock levels by 2018. The 2016 agreement among OPEC and non-OPEC countries to cut crude oil production by 1.8 million barrels per day supports a stronger price outlook for Alberta’s energy sector. This agreement will help boost the West Texas Intermediate price to almost US$60 by the end of 2018. Rebuilding efforts following the Fort McMurray fires will see more than 2,500 dwellings built over the next few years, adding to overall growth. The Conference Board was the first forecaster to call for a recession in Alberta in 2015. Now that the economy is turning around, get the best information on the outlook for the province from the most comprehensive forecast in Canada. Webinar Highlights The webinar will highlight the findings from the Provincial Outlook, including: The outlook for energy prices and oil production in the province The impact of the rebuilding efforts in Fort McMurray on the overall Alberta economy The longer-term implications of pipeline approvals, including conditional approval of the Enbridge Line 3 Replacement project and Kinder Morgan pipeline About Pedro Pedro Antunes is Deputy Chief Economist at The Conference Board of Canada. He is responsible for managing a team of economists in producing the Conference Board’s national and provincial medium and long-term economic forecasts along with other economic indicators and reports. Pedro joined the Conference Board as an economist in 1991 and has moved progressively into more senior roles since joining the Board.

Following a deep two-year recession, Alberta’s oil and gas industry seems to have staunched the bleeding and put the province’s economy on the road to recovery. As a result, Alberta’s economy is expected to come out of the recession and lead all provinces in economic growth in 2017. In this webinar, find out why The Conference Board of Canada is projecting that the economy is growing again, but has some way to go toward a full rebound.

Although investment growth in the energy sector will turn around, it will remain sluggish. However, real total exports are expected to increase strongly this year. This growth in oil exports and the recovery in investment will provide relief to the business sector, boost government coffers, and help return provincial employment to pre-commodity-shock levels by 2018.

The 2016 agreement among OPEC and non-OPEC countries to cut crude oil production by 1.8 million barrels per day supports a stronger price outlook for Alberta’s energy sector. This agreement will help boost the West Texas Intermediate price to almost US$60 by the end of 2018.

Rebuilding efforts following the Fort McMurray fires will see more than 2,500 dwellings built over the next few years, adding to overall growth.

The Conference Board was the first forecaster to call for a recession in Alberta in 2015. Now that the economy is turning around, get the best information on the outlook for the province from the most comprehensive forecast in Canada.

Webinar Highlights

The webinar will highlight the findings from the Provincial Outlook, including:

The outlook for energy prices and oil production in the province
The impact of the rebuilding efforts in Fort McMurray on the overall Alberta economy
The longer-term implications of pipeline approvals, including conditional approval of the Enbridge Line 3 Replacement project and Kinder Morgan pipeline

About Pedro

Photo of Pedro Antunes Pedro Antunes is Deputy Chief Economist at The Conference Board of Canada. He is responsible for managing a team of economists in producing the Conference Board’s national and provincial medium and long-term economic forecasts along with other economic indicators and reports. Pedro joined the Conference Board as an economist in 1991 and has moved progressively into more senior roles since joining the Board.

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