Key Points
- Despite having the third-largest global reserves, Canada spends tens of billions of dollars annually importing oil, mainly into eastern provinces
- Between 1998 and 2023, Canada imported a staggering $543.7 billion worth of oil
- Canada needs a new east-west pipeline to improve energy security and support a stronger economy

How much oil does Canada import every year? If you’re a Canadian, the answer might be shocking, considering that Canada has the third-largest proven reserves in the world and would be more than capable of supplying itself with all the oil it ever needs - if only it had the pipeline infrastructure to do so.
Due to a lack of east-west transmission pipelines, Canada imported more than $488 billion of oil between 1998 and 2020 [1]. Additionally, Canada imported $14.7 billion of oil in 2021 [2], $21.5 billion in 2022 [3], and $19.5 billion in 2023 [4].
Adding these up, Canada imported a staggering $543.7 billion of oil between 1998 and 2023.











