Canada, with its vast wealth of natural resources, is fortunate to be one of the world’s largest energy producers and exporters. From oil to gas to wind to solar to nuclear to hydro to biofuels, Canada has it all, exporting vast quantities of energy to its trading partners such as the United States.
Home to the world’s third-largest proven oil reserves, second-largest uranium reserves, and one-fifth of the world’s freshwater, Canada's energy resources are absolutely massive. The country is also one of the world’s top electricity producers, generating more than 80 per cent of its power supply from sources such as hydro and nuclear. In fact, Canada consistently ranks as one of the world’s top electricity exporters, sending huge amounts of power to the U.S. (Natural Resources Canada - NRC)
Canadians should be proud that their energy industry is one of the most transparent and regulated in the world. To no surprise, the sector also massively contributes to the economy, accounting for 11.8 per cent – or $309 billion – of Canada’s economy (or nominal gross domestic product, GDP), 33 per cent of total Canadian goods exports, and nearly 700,000 jobs nationwide in 2022 (NRC).
In other words, Canada’s economy would not be nearly as strong without its energy resources, and the world a much less energy-secure place.
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Canadian Energy Industry Facts
Globally, Canada is a top 10 producer and exporter of many forms of energy (NRC):
- 2nd largest producer of hydroelectricity
- 2nd largest producer of uranium
- 2nd largest exporter of uranium
- 3rd largest exporter of electricity
- 3rd largest exporter of crude oil
- 4th largest producer of crude oil
- 5th largest producer of natural gas
- 6th largest exporter of natural gas
- 6th largest producer of primary energy
- 6th largest producer of nuclear power
- 6th largest producer of electricity
- 7th largest producer of renewable energy
- 7th largest exporter of coal
- 9th largest capacity of wind power
- Top 10 producer of hydrogen
- 13th largest producer of biofuels
- 22nd largest producer of solar power
Canada’s Role in Global Energy Security
With continued growing global demand for oil, natural gas, renewables, nuclear and other emerging forms of energy for decades to come, Canada is ideally positioned to meet the world’s energy needs.
The reality is that the world will need all forms of energy to fulfill the ever-increasing demand in developing emerging market economies for may years. And, the balanced and pragmatic position to take is to support all forms of energy – we don’t have to choose between supporting renewables or oil and gas. We can do both, for a better Canada, and a more prosperous future.
As one of the few democratic energy exporters left in the world, Canada has a critical role to play as a supplier, benefitting Canadian and Indigenous families here at home will contribute to global energy security and geopolitical stability - by putting more energy supply in the hands of a reliable democratic producer.
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A strong Canadian energy industry is good for our families and allies. Learn more about why the world needs more Canadian resources by joining us along with hundreds of thousands of our supporters on Twitter, Instagram and Facebook today!
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A logical and pragmatic approach to supporting our locally produced natural resources. #CdnPoli pic.twitter.com/AmPKEX4U7R
— Oil Sands Action (@OilsandsAction) July 19, 2024