Crude oil plays an indispensable role in modern society, accounting for nearly 30 per cent of the world’s primary energy consumption in 2022. The commodity underpins the world's fuel needs, powering transportation, fuelling industry, and heating homes. Additionally, crude oil is critically important in numerous sectors from agriculture to aviation, and is used as a base product in a myriad of daily goods like plastics, pharmaceuticals, and cosmetics.
The global dependence on crude oil underlies its economic significance, with economies and political powers often hinging on the production, distribution, and pricing of this crucial resource.
Fortunately, Canadians are blessed with the world's fourth-largest proven reserves. As one of the few major democratic oil producing and exporting nations worldwide, we are seen as one of the most stable and reliable suppliers by our closest allies and trade partners.
Canada is also one of the most socially and environmentally responsible energy producers, steadfastly committed to reducing emissions and upholding workers' rights — making us an ideal supplier of choice for the world’s energy needs.
Here is our latest Canadian oil infographic loaded with fun facts, figures and more. Feel free to download and share it. Also see:
- Global LNG Timeline Infographic
- Canadian Agriculture Infographic
- Canadian Forestry Infographic
- Canadian Mining Infographic
CANADIAN OIL IS WORLD-CLASS
Facts on Canadian Oil (2021)
- 442,100 direct and indirect oil & gas jobs
- 3rd largest oil exporter
- 4th largest oil producer
- 4th largest proven oil reserves
Sources: Natural Resources Canada, Organization of Economic Cooperation, Date: September 2023
CANADIAN OIL IS CRITICAL FOR PROSPERITY
- $140 billion – of oil & natural gas exports in 2021, accounting for 29% of Canada's total exports
- $112 billion – royalties and taxes generated for Canadian governments by oil & natural gas between 2022 and 2023
- $579 billion – Canadian government revenues from oil & natural gas between 2000 and 2019
- $597 billion – projected Canadian government revenues from oil & natural gas between 2023 and 2032
Sources: Natural Resources Canada, Royal Bank of Canada, Canadian Energy Centre, Date: September 2023
CANADIAN OIL IS SUSTAINABLE
Canada's oil sector is a global leader in sustainability initiatives ranging from emissions reductions to water recycling to energy efficiency improvements, and more!
- -33% - from 2000 to 2020, emissions intensity per barrel of oil sands production decreased by 33%
- -32% - Since 2000, emissions intensity per barrel of conventional oil production has dropped by more than 32%
- -23% - If the world followed minimal Canadian flaring standards, GHG emissions per the average barrel of oil produced globally would drop 23%
- -16-23% - the oil sands – which accounts for 2/3rds of Canadian oil production – could see emissions drop by up to 23% by 2030
- -30% - Carbon emissions in Canada's offshore oil & natural gas sector are estimated to be 30% below the global average at extraction
Sources: Natural Resources Canada, The Journal Science via CBC, IHS Markit, NOIA
INDIGENOUS PEOPLES & OIL IN CANADA
Canada's oil & natural gas sector plays a critical role in providing economic opportunities for Indigenous Peoples across Canada.
Approximately 10,400 Indigenous People are employed in Canada's oil & natural gas sector, making it a critical employer of First Nations across Western Canada.
- 23 - Across Canada, 23 First Nations produce oil on 32 different reserves (2018-2019)
- 40x – Indigenous-owned businesses in Canada are 40 times more likely to be involved in mining and oil and gas than the average Canadian business
Sources: Natural Resources Canada, Indian Oil and Gas Canada, National Coalition of Chiefs via Financial Post
THE WORLD NEEDS MORE CANADIAN OIL
6% – Global oil demand is projected to grow 6% between 2022 and 2028, hitting a new record high of 105.7 million barrels per day. Canada's responsible oil sector should be a go-to supplier of choice for the world's future energy needs.
SUPPORT CANADA'S WORLD-CLASS OIL INDUSTRY & THE HARD-WORKING CANADIANS WHO DEPEND ON IT TO FEED THEIR FAMILIES!
Source: International Energy Agency
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1 - Our World in Data. (n.d.). Global Primary Energy. Retrieved September 2023, from https://ourworldindata.org/grapher/global-primary-energy.
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