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
CERI - Industry's Economic Contribution
