A planned C$6 billion dollar refinery in Alberta, Canada has already created more than 1,000 jobs.
The 150,000 barrel a day refinery near Redwater will convert bitumen from the oil sands into diesel fuel.
Global News quoted Andrew Leach, from the University of Alberta’s School of Business, who called the refinery a “consequential moment for Alberta.”
“They’re making a bet on a spread. Yes, if bitumen is heavily discounted relative to diesel fuel, they’re going to come out ahead,” Leach said. “If this was an obvious bet that you could make a rate of return on this investment, you’d see companies doing it too.”
More than 8,000 jobs are expected to be created when the project hits peak construction, the report said.