Canadian Economic Contribution

A strong energy sector is key to ensure Canada’s prosperity for the future

A strong energy sector is necessary to ensure our nation’s prosperity for the future. But without access to emerging markets, a streamlined regulatory system and a competitive tax structure, Canada risks losing capital investment, jobs and economic benefits for Canadians.

Canada is falling behind. Competition for capital investment in the global market is fierce and if Canada wants its industry to be a major player internationally, a number of factors need to be considered. Rising government costs, the burden of inefficient regulations, and the lack of infrastructure to move Canadian energy to growing markets are all undermining investor confidence in Canada and negatively affecting the country’s ability to attract the capital needed to create jobs and national prosperity.

Learn more about keeping Canada competitive.

ECONOMIC IMPACT OF CANADA'S OIL AND NATURAL GAS INDUSTRY

A grey graphic of a map of Canada with red circles including the economic benefits of Canada's oil and gas industry to each province except Alberta

$10 Billion Other (Includes New Brunswick, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island and Yukon)

Source: CERI 2017 - GDP Impact*

*The economic impact to provinces, with the exception of Alberta, from 2017 to 2027.

Total capital spending is forecast to be $41 billion in 2018 – a 49 per cent decrease compared to $81 billion in 2014. Meanwhile, capital spending in the United States increased by about 38 per cent to $120 billion thanks to a more streamlined regulatory system. Capital investment in our energy sector generates development activity, which in turn spurs job creation and economic growth across Canada for all levels of government – including about $19 billion in revenues in 2015 and 533,000 jobs across the nation in 2017.

Capital Investment in Canada's Oil and Natural Gas Industry

Capital investment in Canada is down 49 per cent. In 2014 investment was $81 billion and in 2018 it dropped to $41 billion.

Source: Statistics Canada and CAPP, 2018

Canada’s oil and natural gas industry is active in 12 of Canada's 13 provinces and territories. Find out more about activity in each province. 

Safety is at the foundation of all our work. Our industry is committed to protecting the health and safety of our employees and the public.

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