The problem here is the Premier's hyperbole.

For a sober, realistic view of AB petrochemical opportunities, read the 2017 report of the Energy Diversification Committee: https://open.alberta.ca/publications/9781460136867

Stop selling Alberta like it's a high-mileage Kia Rio, sir.
#ABleg #energytwitter https://twitter.com/jkenney/status/1329483520113184770

2/Coles's Notes for EDAC's report:

AB has the 2nd biggest petchem cluster in North American behind the US Gulf Coast, but over the past 15 years has lagged waaaay behind USGC in attracting capital.

Why?

3/Alberta has 2 big competitive advantages:

1. Lower operating costs
2. Proximity to West Coast tidewater, access to Asian markets

It has 1 big competitive disadvantage: 5% to 15% higher capital costs

4/The purpose of the @RachelNotley govt's 2018 Petrochemical Diversification Program was to subsidize capital costs to eliminate AB's competitive disadvantage.

*I forgot a big competitive advantage: super low natural gas prices.

5/Notley also created a Petrochemical Infrastructure subsidy program to help pay for the additional stripper plants needed to extract the "anes" (eg ethane) to supply the additional petchem plants.

*2 projects were approved under the Notley program.

6/Kenney cancelled the infrastructure program, a fact conveniently forgotten by almost everyone in Alberta. Building that infrastructure is part of a company's capital cost calculation.

7/Kenney also cancelled the Partial Upgrading program that was designed to commercialize technology that upgrades bitument from ultra-heavy to heavy or medium so that it can flow in a pipeline, thus eliminating the need for diluent, which takes up 30% of pipeline capacity.

8/So, when you clear away the smoke and mirrors, what you have is a slightly modified NDP petrochemical subsidy program + end of the infrastructure program + end of the partial upgrading program + a ramp-up in public chest thumping by the Premier.

9/Does that sound like a whiz-bang new petrochemicals sector marketing approach from the UCP government?

Nah, doesn't to me, either.

10/Full disclosure: I was hired on contract to do a final copy edit of the committee's report.