Alberta

Alberta is one of Canada's provinces. It celebrated 100 years as a province in 2005 on September 1st. As part of the Centennial celebration, Queen Elizabeth II and Prince Philip visited the province from May 23 to May 25, 2005.

Industry

Main article: Industry in Alberta

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Alberta is the largest producer of conventional crude oil, synthetic crude, natural gas and gas products in the country. Two of the largest producers of petrochemicals in North America are located in central and north central Alberta. In both Red Deer and Edmonton, world class polyethylene and vinyl manufacturers produce products shipped all over the world, and Edmonton's oil refineries provide the raw materials for a large petrochemical industry to the east of Edmonton.

Related Topics:
Conventional crude oil - Synthetic crude - Natural gas - Petrochemicals - North America - Red Deer - Edmonton - Polyethylene - Vinyl - Oil refineries - Petrochemical

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The Athabasca Oil Sands (previously known as the Athabasca Tar Sands) have estimated oil reserves in excess of that of the rest of the world, estimated to be 1.6 trillion barrels (254 km³). With the advancement of extraction methods, bitumen and economical synthetic crude are produced at costs nearing that of conventional crude. This technology is Alberta grown and developed. Many companies employ both conventional strip mining and non-conventional methods to extract the bitumen from the Athabasca deposit. With current technology, only 315 billion barrels (50 km³) are recoverable. Fort McMurray, one of Canada's youngest and liveliest cities, has grown up entirely because of the large multinational corporations which have taken on the task of oil production.

Related Topics:
Athabasca Oil Sands - Tar Sands - Oil - Strip mining - Bitumen - Fort McMurray - Multinational corporation

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Another factor determining the viability of oil extraction from the Tar Sands is the price of oil. In 2005, record oil prices have made it more than profitable to extract this oil, which in the past would give little profit or even a loss.

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While Edmonton is considered the pipeline junction, manufacturing, chemical processing, research and refining centre of the province, Calgary is known for its senior and junior oil company head offices (unlike Edmonton, Calgary is not close to any large sources of oil).

Related Topics:
Edmonton - Calgary

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With concerted effort and support from the provincial government, several high-tech industries have found their birth in Alberta, notably the invention and perfection of liquid crystal display systems. With a growing economy, Alberta has several financial institutions dealing with several civil and private funds.

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