Oil Industry in Canada

Supporting Canada's Oil Families

Many economists say that oil and natural gas “pays the bills” in Canada. It’s true; this critically important industry is an irreplaceable part of our national economy, helping hundreds of thousands of Canadians put food on the table for their families while generating government revenues to the tune of tens of billions of dollars every year.

Accounting for a significant share of our exports, the oil industry also plays a big role in paying for our imported goods and services – everyday products of which we do not make in Canada but rely on from abroad.

It’s safe to say that if it weren’t for the $1.1 trillion in projected government revenues created by the oil and natural gas industry from 2000 to 2032, Canadians would be short on funds to pay for our social programs such as healthcare and education.

Today, almost all of our oil is sent to the United States. However, with new pipelines like the Trans Mountain Expansion, Canada has been able to maximize the value of our oil resources by exporting to other nations abroad while creating tens of billions of dollars in additional economic benefits for Canadian and Indigenous families.

Canada’s Oil Industry

Canada is home to the world’s third-largest proven recoverable oil reserves and is a global top-five producer and exporter. Our country is one of the most transparent and regulated producers worldwide; Canadians should be proud!

As long as the world needs oil – and it will for decades to come, according to the latest projections – Canadian producers should be the “last ones out of the pool.”

Sadly, the conversation around oil in Canada has been acutely out of balance for a decade or longer. This should not be an “either, or” conversation, but one that includes support for all forms of energy including oil, natural gas, wind, solar, hydro, and nuclear.

Thankfully, with your help over the years, Canada Action and its supporters have been able to turn the tide in public discourse and restore a more balanced, factual, honest and non-partisan discussion about our country’s most important job-creating, prosperity-generating energy resource.

Canadian Oil: Quick Facts

oil industry in canada banner

Canada is home to the third-largest proven oil reserves globally ^[1]
Canada is the third-largest exporter and fourth-largest producer of oil in the world ^[2]
The oil and gas sector generated $578.7 billion in revenues for Canadian governments between 2000 and 2021 ^[3]
Another $594 billion is projected for Canadian governments between 2023 and 2032 from the sector ^[4]
In other words, Canada’s oil industry is projected to generate more than $1.1 trillion between 2000 and 2032 for Canadian governments, used to pay for schools, roads, hospitals, infrastructure, law enforcement, doctors, nurses, teachers, and so forth ^[3][4]
As of 2024, the petroleum sector accounted for 900,000 total jobs, including direct, indirect, and induced across the country ^[5]
In 2023, the petroleum sector accounted for 7.7% of Canada’s economy (GDP), valued at $208.8 billion ^[2]

Join Us to Learn More!

Oil in Canada is an integral part of our economy, supporting families and governments from coast to coast. With projected growing global demand for decades to come, it only makes sense that Canadians continue to support this critically important sector's growth over the long term and those who rely on this industry to provide for their families.

Canadians should recognize that we do not have to choose between supporting oil and renewables. We can do both to support the relatively high standard of living Canadians are lucky to have.

With an increasingly challenging trade relationship with our largest export market and trading partner, Canadians can no longer afford to say "no" to the incredible job-creating, prosperity-generating opportunities provided to us by the oil sector. Are you with us?

Canada needs to attract oil and natural gas investment to help turn our economy around. pic.twitter.com/Ce2Ptf0VgU
— Oil Sands Action (@OilsandsAction) March 31, 2025

SOURCES:

_{1 – https://www.worldometers.info/oil/oil-reserves-by-country/}

_{2 - https://energy-information.canada.ca/en/energy-facts}

_{3 - https://www.canadianenergycentre.ca/495-billion-in-government-revenues-from-the-canadian-oil-and-gas-industry-projected-over-next-decade/}

_{4 - https://www.canadianenergycentre.ca/755-billion-the-energy-sectors-revenue-contribution-to-canadian-governments-2000-2021/}

_{5 - https://www.capp.ca/en/our-priorities/energy-and-the-canadian-economy/}

Oil Industry in Canada

Supporting Canada's Oil Families