Alberta’s oil and natural gas economy is powered by ingenuity, entrepreneurial drive, and a relentless focus on opportunity, proving that big ideas from Alberta can compete anywhere.
When most Canadians think of oil and natural gas, they think of Alberta, and for good reason. Alberta’s energy sector is a cornerstone of the provincial economy and a critical contributor to Canada’s prosperity, energy security, and global competitiveness.
From world-class resources and skilled workers to advanced infrastructure and innovation, Alberta has built a strong foundation on oil and natural gas. That foundation continues to support jobs, public services, and investment today – and positions the province to build even more for the future.
Alberta ingenuity powers the world with secure, reliable energy.
A Foundation for Alberta’s Economy
Alberta’s oil and natural gas sector is the single largest contributor to the province’s economy. In 2024, the industry generated approximately $88 billion in GDP, accounting for about one-quarter of Alberta’s total economic output.
Strong global demand has reinforced Alberta’s role as an energy exporter. In 2024, oil and natural gas exports from Alberta were valued at roughly $133 billion, representing more than 70 per cent of the province’s total exports. These exports connect Alberta’s resources to markets around the world while strengthening Canada’s trade balance and economic resilience.
Beyond production, the sector supports a range of activity, from engineering and construction to refining and pipeline transportation, making oil and natural gas a powerful driver of growth across the economy.
Building Communities Across Alberta
Oil and natural gas does more than power economies. It also helps build communities.
In 2024, Alberta’s energy sector supported over 200,000 direct jobs, representing about 8 percent of all employment in the province. When indirect employment is included, the industry accounted for roughly half a million jobs, supporting families and communities in every region of Alberta.
The sector also delivers essential public revenue. In 2024 alone, oil and natural gas companies paid billions of dollars in provincial and municipal taxes, helping fund healthcare, education, infrastructure, and social programs. Since the 1970s, the industry has contributed hundreds of billions of dollars in royalties, providing long-term value to Albertans and helping sustain public services for generations.
Source: CAPP Data Centre, Alberta Oil and Natural Gas Overview.
Building Indigenous Prosperity
Alberta’s oil and natural gas industry plays a growing role in advancing economic reconciliation with Indigenous communities, organizations, and businesses.
Between 2021 and 2023, the sector spent nearly $14 billion with Indigenous-affiliated vendors in Alberta, supporting hundreds of Indigenous businesses across the province. On average, each participating company engaged dozens of Indigenous suppliers every year, helping build long-term partnerships rooted in opportunity and mutual benefit.
In addition, the industry provides ongoing community investment, supporting education, skills training, community infrastructure, and social programs in Indigenous communities throughout Alberta.
Source: iTOTEM, Shared Values Report on Indigenous Supply Chain and Indigenous Community Investment in Alberta’s Oil and Natural Gas Industry (2021–2023).
A Vision to Build More
Alberta’s energy story is far from finished.
Global demand for oil and natural gas remains strong and is expected to grow as populations increase, economies modernize, and energy-intensive technologies like data centres and AI expand. Experts increasingly describe today’s reality not as an energy transition, but as an energy addition, where new energy sources are added alongside conventional ones to meet rising demand.
Alberta is well positioned to meet that demand. With abundant resources, established infrastructure, and a highly skilled workforce, the province can continue to attract private investment and support major projects—from emissions-reduction technologies to energy-intensive industries that rely on reliable, affordable power.
By building on its oil and natural gas foundation, Alberta can continue to strengthen its economy, support communities, and contribute to Canada’s energy future.
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