Premier Jason Kenney says his government is looking to take a page out of Peter Lougheed's book to ensure the future of resource development in the province.

His comments followed the withdraw of Teck's application for the Frontier oilsands project in northeastern Alberta, 

In a press conference yesterday morning, Kenney said partnerships in resource development is a promising way to ensure Alberta continued prosperity.

"We will not be stopped," said Kenney. "This province will not be shut down. We will not leave in the ground assets that represent $10 trillion of value on global markets. We will not be the only major energy producer in the world to choose poverty over prosperity."

The Lougheed administration partnered with the private sector in creating the Alberta Energy Company in 1973 when adequate finances could be secured to develop the oilsands.

"Well, it may be necessary again," said Kenny. "One of the possible approaches would be to re-create an agency or a corporation similar to the AEC in the 1970s."

Though believing the Frontier project would eventually be approved, he said the federal government's indecision on the regulatory approval process, and inaction in the face of illegal blockades have created more uncertainty for investors looking at Canada.

“This news deepens our government's resolve to use every tool available to fight for greater control and autonomy for Alberta within Canada, including reinforcing our constitutional right to develop our natural resources, ensuring a sustainable future for our oil and gas industries, and restoring Canada’s reputation as a reliable place to do business."