Investment in the oil and gas sector fell from $76 billion in 2014 to $29 billion in 2022.
The carbon tax will increase costs in the petroleum manufacturing sector by 25 per cent.
The Alberta government may take an ownership stake in future oil and gas development.
Ottawa’s federal carbon tax came into effect earlier this year at $20 per tonne.
A spill of more than 10,000 tonnes is likely to occur once every 242 years.
Ottawa’s Bill C-48 and Bill C-69 target Alberta’s energy sector.
Bill C-48 includes a moratorium on most large oil tankers loading or unloading on Canada’s West Coast.
Bill C-48 includes a moratorium of large oil tanker traffic off northern B.C.
Asia’s demand for oil will increase to an estimated 6.6 million barrels per day in 2040.