Energy in Canada

Energy in Canada

Canada, with its vast wealth of natural resources, is fortunate to be one of the world’s largest producers and exporters of many kinds of energy.

Home to the world’s third-largest supply of proven oil reserves, the third-largest uranium reserves, and one-fifth of the world’s fresh water resources, Canada is also one of the world’s top electricity producers and generates more than 80 per cent of its power supply from sources such as hydro and nuclear. Canada was the top electricity exporter in the world in 2021 [1], sending huge amounts of energy to the U.S.

Whether it be oil, natural gas, nuclear, hydro, solar, wind, or biofuels, Canadians should be proud that our energy industry is one of the most transparent and regulated in the world. To no surprise, the sector is also a major contributor to our economy, accounting for 9.7 per cent of Canada’s nominal gross domestic product (GDP), 32 per cent of total Canadian goods exports and 635,000 jobs in 2021 [1].

Canadian Energy Industry Facts

Canada was the 4th largest oil producer in the world in 2021

Globally, Canada is a top 10 producer and exporter of many forms of energy [1]:

  • 1st largest exporter of electricity
  • 3rd largest producer of hydroelectricity
  • 3rd largest producer of uranium
  • 3rd largest exporter of crude oil
  • 4th largest producer of crude oil
  • 5th largest exporter of uranium
  • 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
  • 8th largest capacity of wind power
  • Top 10 producer of hydrogen

Canada was the 3rd largest hydropower producer in the world in 2020

Canada was the 6th largest producer of natural gas globally in 2021

The world is currently undergoing an energy crisis, one of the worst in history [3]. Meanwhile, global demand for oil, natural gas, renewables, nuclear and other emerging forms of energy are projected to continue growing to new record highs for years to come.

Regardless of what the future holds for global energy demand, the world will need all forms of energy for decades to come. Canada, a major energy superpower and one of the few democratic energy exporters, has a critical role to play in providing nations worldwide with the energy they need.

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Canada was the 7th largest producer of renewable energy in the world in 2021

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SOURCES:

1 – Natural Resources Canada – Energy Fact Book 2022-2023 – Date Accessed: March 2023

2 – Canadian Energy Centre – 50 Facts about oil and gas: a summary research brief – Date Accessed: March 2023 (https://www.canadianenergycentre.ca/50-facts-about-oil-and-gas-a-summary-research-brief/)

3 – International Energy Agency – World Energy Outlook 2022 – Date Accessed: March 2023 (https://www.iea.org/reports/world-energy-outlook-2022)