The discount has been a huge concern for us and for our members. We've been recommending for years that infrastructure be built to get oil and gas to foreign markets. We've advocated for a process of one project, one review. That still is not the case in Canada. Much work needs to be done to get there to enable projects like that.
In addition to just access to markets, tax is extremely important for this sector. In the study I referenced, because of U.S. tax reform, you now see a significant gap in average and marginal tax rates when you compare Alberta to, for example, Texas and Louisiana. The average tax right now in Alberta for the oil and gas sector is 23.9%. If you look at Texas, it's gone from 26% down to 15.8%. We had a small advantage, and now we have a significant disadvantage for new investment in Alberta in that sector. We estimate that this could affect up to 45,000 jobs in Alberta, specifically in that sector.
I'm concerned about the sector. It faces many challenges, and it's not just infrastructure; it's also the tax factor.