If something sounds too good to be true, it usually is. When it’s a $70 billion data centre called “Wonder Valley” that will supposedly be built from scratch in the middle of the northern Alberta wilderness, one that will apparently feature swans and deer casually moseying around a futuristic-looking campus, that should set off some pretty noisy warning bells. And when the person pitching it is Kevin O’Leary? Well, red alert.

The UCP government is already welcoming it with open arms — and celebrating it as the biggest investment in Alberta’s history. “Excited to see this incredible project led by Kevin O’Leary coming to Wonder Valley, located in the Municipal District of Greenview,” Alberta Premier Danielle Smith said on social media. “With Alberta’s low taxes, free market, abundant natural gas and skilled labour force, we’re positioned to be a world leader in AI data centres.”

First things first: this “incredible project” is, for now, just a website and a letter of intent signed between O’Leary Ventures and a small rural municipality. So far, it seems far more like an attempt to shake incentives and subsidies out of local governments and capitalize on the global investment community’s fascination with AI right now than anything real or tangible.

But at full capacity, it would require 7.5 gigawatts of power, which is almost 40 per cent of what the entire Alberta grid can currently provide — and that’s with increasingly frequent brownouts and some of the highest electricity prices in Canada.

Where, exactly, would all these additional electrons come from? Not wind and solar, which the provincial government has spent the last two years actively undermining with its new regulations — ones whose standards around land use and reclamation, curiously enough, don’t apply to oil and gas operations. Instead, they’d come mostly from additional gas-fired facilities, which just happens to suit the UCP government’s pro-fossil fuel agenda perfectly.