Next we have the results of our sensitivity analyses in terms of investment and production. Obviously, the higher the price of oil, the higher the value of production, and thus the higher the economic impacts in all the indicators we measure.
We see that in the central case, for example, total investment and value of production is $632 billion. When we look at $25 oil, the impact on investment and production is lower. In the $40 oil, it is higher.
The more bitumen that's upgraded in Alberta, the higher the economic impact. Imports are usually leakage in economic terms. They create economic impacts and stimulation in the economies outside of Canada. So the less of it that leaves Alberta and Canada, the higher the economic impacts will be.
With respect to the GDP impacts, for the same sensitivities that we've done, when the oil price goes down from $32 to $25, the GDP impacts are reduced by 17%. On the other hand, when we look at the $40 oil, compared with the base case of $32, the GDP would be 17% higher.
In the expected case, we did the same exercise. Looking at the potential case, the higher the price of oil, the higher the GDP impact. The impact we went over earlier could be as much as 55% higher, if the highest development scenario takes place, which is the potential case and a high price of oil of $40. Nowadays, $40 is not really that high. The upgrading of more bitumen into synthetic crude oil in Alberta, or in Canada, would increase the GDP impacts by 23%, or a trillion dollars.
In conclusion, the investment, under the scenarios we described, in the oil sands would be about $100 billion over 20 years, resulting in over $571 billion. It could be as high as 55% more, at the upper end. The GDP impact is $885 billion, and about 6.6 million person-years of employment would be created. Economic benefits extend well beyond Alberta into the rest of Canada and the rest of the world—in job creation, GDP, and tax revenues. The federal government receives the highest share of tax revenues generated from this development.
Mr. Chairman, this concludes my presentation. I would be happy to answer any questions.