The oil and gas industry is national in scope, and provides economic benefits to all of Canada.
We produce and explore in 12 of the 13 provinces and territories, from northeast British Columbia to Alberta’s oil sands, to Saskatchewan's heavy oil, to offshore Newfoundland and Labrador, and Nova Scotia. While many people have heard of projects like the oil sands, there are less well-known ones across our country. In Quebec, for example, Forest Oil recently announced that early testing has shown the potential of a huge reservoir of natural gas. Manitoba’s Sinclair Field has helped that province double its oil production since 1999.
Our industry is the largest single private sector investor in the country, investing over $50 billion in capital projects in 2007 alone, with the same expected for 2008. In 2007, our industry contributed an estimated $27 billion to government revenues in the form of royalty payments, land payments (bonus payments) and income taxes, ensuring that all Canadians benefit from oil and gas development.
This means increased jobs. Right now, our industry accounts for more than 500,000 jobs across Canada, directly and indirectly, and that number is expected to grow.
Read about the people who work in our industry
Canada's Oil & Gas Exports
Our oil & gas exports provide many benefits to Canadians. But some argue that social and environmental costs, and potentially selling our future, out weigh the benefits. Energy Exports, Should We?
Presentation by David Collyer, CAPP President, to CAMPUT (Canadian Association Of Members Of Public Utility Tribunals) Conference 2009
(PDF | 512KB | May11 09)
CERI Report - Industry's Economic Contribution
"The CERI economic impacts study just quantifies the cross-country trend we have been seeing as the oil and gas industry continues to provide employment using a wide variety of businesses across Canada. This study demonstrates how the oil and gas sector helps drive the Canadian economy and also provides revenues to provincial and federal governments."
- Greg Stringham, CAPP Vice President, Oil Sands and Markets
In July 2009, the Canadian Energy Research Institute (CERI) released its report entitled "Economic Impacts of the Petroleum Industry in Canada."
CERI conducted a comprehensive assessment of the role of the petroleum industry in the provincial and national economies, currently, and 25 years into the future. The primary objective of this study was to measure the incremental impacts of the development in the oil and gas industry and the resulting impacts on the province of Alberta, the other provinces and territories, and total Canada.