Canada’s Natural Resource Sector Lost $196 Billion in Investment Over 5 Years

Putting $196 Billion into Perspective

What could $196 billion buy? According Second Street’s report, that’s roughly the cost of a brand new NHL-sized arena every day for a full year.

Here’s a glance of various infrastructure projects that could have been funded many times over with $196 billion in cash:

15 Muskrat Falls Dams – Newfoundland and Labrador
35 Scarborough Subway Extensions – Ontario
45 Champlain Bridge Corridors (Montreal) – Quebec
140 Pattullo Bridges – British Columbia
290 Rogers Place (Oilers arena) – Alberta
600 Mosaic Stadiums (Roughriders stadium) – Saskatchewan
780 IG Fields (Blue Bombers stadium) – Manitoba

Top 10 Lost Investment Opportunities by Canada

Pacific Northwest LNG (BC) - $36 billion
Prince Rupert LNG Aurora (BC) - $28 billion
WCC LNG (BC) - $25 billion
Steelhead LNG (BC) - $18 billion
Mackenzie Valley Pipeline Project (NT) - $16.10 billion
Energy East Pipeline (AB-NB) - $15.70 billion
Grassy Point LNG (BC) - $10.00 billion
Trans-Mountain Pipeline Expansion* - $9.30 billion
Northern Gateway Pipeline (AB-BC) - $7.90 billion
Black Thor Project (ON) - $4.40 billion

*started as private sector initiative and future remains unclear

See the full list of Cancelled / Delayed Projects in Canada here. Or here:

196 billion in investment lost by Canada's natural resource sector Second Street acknowledges that this list isn’t necessarily all-inclusive. Also see the phrases section below that some investors have simply pulled the plug before making any investment decision public.

5 Key Findings from SecondStreet.org

“As global demand for natural resources is expected to increase for years to come, Canada is missing out on enormous economic opportunities. If Canada doesn’t provide the petroleum products, mining materials and wood products necessary to make cell phones, bicycles, new homes and other commodities, the world will simply find those materials elsewhere.”

“In addition to lost jobs and opportunities for Canadian companies, the stalled or cancelled natural resource projects we identified represent billions of dollars in tax revenue – funds which could be used to pay down government debt, lower taxes, build hospitals, schools and more.”

“… investment decisions are often not discussed publicly. We were told, “I believe your list could be a lot longer. The reality is there are lots of projects where proponents did not go public on, but they were trying to raise capital but were basically shunned because of the reputation that Canada has right now.”

“Why is it that Canada, a country with among the most stringent environmental, health and safety, labour, and human rights laws and regulations in the world, is facing continued pressure to restrict resource development and losing jobs and economic opportunity in the process?”

“Canada is missing out on enormous economic opportunities when it comes to natural resource development. Government policies restricting natural resource projects and investment have, in many cases, obstructed the creation of thousands of direct and indirect jobs. Unlike government megaprojects, the aforementioned jobs do not require government subsidies. Policy makers would be wise to prioritize efforts to address the barriers that are holding up development of Canada’s natural resource sector.”

Take Action for Canada’s Future

Canada’s natural resource sector is an important part of our nation’s overall economic well-being and prosperity. We need your help to support this very important industry because Canadian natural resources are good for Canada and the global environment!

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