The major economy mainstay of Alberta, is Edmonton which is its capital. It is the chief hub of the oil and gas industry. Experts in the oil industry have the conventional view that, achieving success in the long run, is hinged on innovation which is in tune with the ever-changing times. It is usual for any industry to rise and fall, in any given nation, and the same can be said about the oil industry.
In countries who have oil as one of the constituents of their economy’s mainstay, you would observe that the growth has not really been steady. As a matter of fact, some oil industries in some countries have fallen and risen over time, and only some of them have been able to retain their heads above the water.
Edmonton for example, has had its oil industry revived, and the prices have increased since it last crashed in 2014. However, the future of the oil industry does not look really bright yet, as there are variations and instabilities in bureaucracies, technology and transportation.
With the current state of things, there is an intended focus on making operations more effective irrespective of the aforementioned uncertainties. Oil producers in Edmonton, are making conscious efforts to seek market for oil, in a bid to entice big-time investment and to compete with the government’s levy on carbon dioxide discharges.
A good number of drilling companies which are situated in Edmonton, are concentrated on the oil and gas sector. However, there are evolving opportunities for the drilling technology in Alberta, which transcends and affects a couple of other sectors.
One opportunity which Edmonton must lay hold on, is developing the geothermal energy production technology, which they can sell to countries who have normal geothermal reserves.
People are getting aware of the fact that Edmonton has a lot to offer, as there are new products which are being manufactured regularly, the same applies to the number of jobs, technologies and growth as a whole.
However, for Edmonton to harness the possibilities in all these opportunities, there is a need for concerted efforts from the government, interested private individuals, and even universities.
Axel Meisen who happens to be a chemical engineer and consultant to Alberta innovates, states that in times when the demand for gasoline is regularized, and even drops, the prospects of the oil industry in Edmonton are still very worthy.
It can be said that the oil industry in Edmonton, needs an extra touch for its advancement to be certain and quick.

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