Picture for article "Alberta Hydrogen Plan"

Alberta Hydrogen Plan

About Hydrogen Plan

Prime Minister Jason Kenney announced that Alberta is beginning to seek to exploit large reserves of natural gas. By 2040, Alberta plans to become an exporter of hydrogen, which is an environmentally friendly fuel.

The worldwide spread of the coronavirus has led to a decrease in fuel demand. Consequently, the Alberta oil industry suffered heavy losses.

The province's troubles began many years ago; however, as high emissions of oil sands made it a target for environmental activists and caused some investors, banks and insurers to cut ties with the industry.

Image source: https://www.macleans.ca/economy/economicanalysis/putting-the-last-three-oil-crashes-in-perspective/
Image source: https://www.macleans.ca/economy/economicanalysis/putting-the-last-three-oil-crashes-in-perspective/

Hydrogen Potential

“The potential for hydrogen is huge,” Kenney said. He also added that Alberta has excellent potential to produce some of the cheapest hydrogens in the world.

“Putting Alberta on the global hydrogen map now as this energy source is beginning to gain prominence, will be crucial for us to be at the forefront of future changes in energy.”

The extraction of hydrogen will help Alberta develop and improve its economy. Although in September 2020, the provincial minister told Reuters that he is also offering funds to expand oil and gas production.

Kenney said the province wants to become a more massive petrochemical producer and a recycling center for plastic waste by 2030.