Rachel Notley calls oilsands a 'tremendous asset'

Alberta's premier is trying her best to lure international investment to the oilpatch, even describing the oilsands as an "international showpiece."

Rachel Notley made the comments during a speech during theStampede Investment Forum in Calgary on Tuesday, with25 international investors from 14 countries and120 representatives ofAlberta's energy industry in the room.

The event was closed to journalists, but a copy of her speech was provided. The premier expressed her support for expanding the oilsands and starting new projects to extract bitumen.

"It's a tremendous asset which hastransformed Alberta into one of the world'sleading oil producers," said Notley.

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Notley spoke highly of the oil and gas industry and had the same tone of speeches given by the various PC premiers of the last decade.

"I wouldn't call it a PC speech, I would call it an Alberta premier speech," said Duane Bratt, a political science instructor at Mount Royal University in Calgary. "If any other premier would have delivered that, I don't think people would have raised an eyebrow. But the fact it was Rachel Notley, does."

Since Notley and the NDP took power, there has been uncertainty in the energy sector because of the new government's promises to raise corporate taxes, look at splitting the Alberta Energy Regulator and review the royalties paid by oil and gas companies.

While Notley has tried several times before to quell the fears, she was having to reiterate the same message yet again. This time, upping the rhetoric.

"When it comes to potential shifts,such as greenhouse gas emissions androyalties, no one will be surprised by howour decisions unfold," said Notley.

"We are working hard to make thetransition as smooth as possible, andbring as much economic stability as we can,while we implement our plans."

Some industry members have said the uncertainty will remain until the government takes action to assure the industry, instead of just talking about it.

Notley'sspeech seemed at odds with her campaign speeches with often focused on making sure oil companies paid their fair share of royalties, instead of promoting the virtues of the oilpatch, like she did in her latest speech.

"Job creators create jobs in the privatesector, not government.And we will be honest, thoughtful partnersto them," said Notley. "We will maintain a warm welcome forinvestors and uphold their right to earn fairreturns."

The premier wrapped up her speech by rolling out the red carpet and making a pitch for investment, the same message her predecessors have made.

"Expanding existing oil sands projects,establishing new ones and pioneeringadvanced technologies all this requiresspending on a large scale," said Notley. "Under our leadership, Alberta's abundant oiland gas reserves will remain wide open toinvestment."