EDMONTON - Premier Ed Stelmach warned Monday of "dire economic consequences'' if Alberta were ever forced to slow oilsands development to curb emissions that cause global warming.

Stelmach called reporters to his office to respond to what he said were recent comments by Ontario MP Mark Holland, the Liberal natural resources critic.

Holland was asked on a radio talk show if the Liberals would nationalize the oilsands if Alberta refused to go along with federal efforts to curb developments that increase emissions.

He responded by saying that a Liberal government would try to "work with (Alberta) collaboratively,'' but added "there will be consequences'' if the province refused.

Stelmach described the comments as "reprehensible'' and insisted the Liberals were threatening to grab control of the oilsands.

"When we hear talk of perhaps nationalizing the oilsands -- a moratorium on oilsands development will bring about dire economic consequences right across the country.''

In fact, Holland had issued a news release Friday in an effort to correct what he described as attempts to distort his comments.

"The Liberal party will continue to support the development and expansion of the oilsands in a reasonable and sustainable manner,'' he said in the release. "Any other characterization of our position is nothing more than an attempt to fear-monger.''

In an interview from Ottawa on Monday, Holland said he couldn't figure out why the Alberta premier and others were twisting his comments.

"Perhaps by creating fear and distorting not only what I said, but the position of our party, that they think they can extract some political gain from it,'' he said.

Stelmach also threw out some figures Monday suggesting Alberta has taken a leading role in reducing greenhouse gas emissions.

 "Alberta is the only province on record that has actually reduced CO2 emissions by 16 per cent,'' he said.

But the premier later conceded he was talking about so-called emissions intensity, which is a measurement against the growth in industrial production rather than a total measurement of what's coming out of the smoke stack. If a company increases emissions at a slower rate than it increases production, then emissions intensity is reduced even though absolute emissions have increased.

An Alberta Environment official later confirmed that total emissions have increased by 40 per cent since 1990, but emissions intensity is down by 16 per cent over the same period. 

NDP Leader Brian Mason described Alberta's record as appalling and called for a moratorium on new oilsands projects.

"There's approximately 50 (projects) that are up and running or in some form of approval and 100 more awaiting various stages of approval,'' Mason told a news conference.

NDP environment critic David Eggen said Alberta's use of emissions intensity to set new targets means the province has no real plan to help curb global warming.

"Intensity targets allow emitters to pump as much greenhouse gases into the atmosphere as they want, as long as they continue to turn a profit,'' said Eggen.

Environment Minister Rob Renner announced last week that Alberta will set new targets for reducing emissions intensity. But he also conceded that these new targets won't actually reduce total emissions, given Alberta's rapid industrial growth.

The premier said it's wrong to place all the blame for greenhouse gases on the energy sector.

"The energy sector is number 1 (in emissions), but of course every time you put on your lights in the house or turn on your TV, you're using electrical energy,'' said Stelmach.

"So it's going to require all Albertans working toward one common goal.''