Montana's Congressman, Denny Rehberg http://www.house.gov/apps/list/press/mt00_rehberg/040208_EdmontonTradeMission.html , will lead several Montana businesses and the Montana World Trade Center (MWTC) http://www.mwtc.org on a trade mission to Edmonton, Alberta, May 29 and 30. The Greater Edmonton Area (GEA) is experiencing an economic boom due to the increased energy production activity of the oil sands, three large regions north of Edmonton producing bitumen, a heavy, tar-like crude oil.
“This is a great opportunity for Montana businesses to explore the potential for increased exports to the Edmonton area,” said Rehberg, a member of the House Energy and Water Appropriations Subcommittee. “Approximately $40-$70 billion dollars is expected to be invested in Alberta’s energy industry over the next seven years, and that investment could open a lot of doors for Montana’s businesses.” Rehberg will be making his fourth trade mission with MWTC over the past four years.
According to a study commissioned in part by the Edmonton Economic Development Corporation, bitumen production from Alberta’s oil sands regions is expected to more than triple in the coming decade, from 1 million barrels per day (bpd) to 3.5 million bpd. Companies are expected to greatly increase the bitumen upgrading capacity in the GEA, leading to capital investments in infrastructure, maintenance and environmental services, and other economic development in all sectors of the local economy.
“Canada is Montana’s number one trading partner, and with the currency exchange right now, this is a great time for Montana businesses to expand into the Canadian market, or to increase existing exports to Canada,” said Arnie Sherman, Executive Director of the Montana World Trade Center. “Edmonton is at the forefront of that opportunity.”
Businesses interested in joining Rehberg and MWTC on the Edmonton trade mission should contact MWTC, at 406-243-6982.