The Alberta Energy Regulator (AER) is releasing its latest Alberta Energy Outlook.

AER confirms Alberta remains Canada’s largest producer of oil and natural gas, with oil sands making up two-thirds of the oil output. The regulator expects production to grow by another 17 per cent by 2033. Raw bitumen output is expected to increase to four million barrels per day by 2033, up from the current 3.4 million bpd.

The report also predicts strong growth in hydrogen production in Alberta. The province currently produces 2.5 million tonnes of hydrogen per year. The report forecasts a 4% year-over-year increase in hydrogen and expects output to reach 3.9 million tonnes per year by 2033.

The report also predicts the emergence of an Alberta lithium industry. The critical mineral for batteries and electric vehicles is not currently mined in our province, but AER expects production to ramp up to over 13,000 tonnes of the metal over the next nine years.