It’s hard to fathom just how much a lost investment of $196 billion is. But thanks to a newly released policy brief by Canadian think tank SecondStreet.org, it’s much easier to put that figure into context.
Unfortunately the circumstances under which the report uses comparisons to help us grasp just how much $196 billion is is alarming to say the least. Alarming for all Canadians that is.
After scanning government websites, industry reports and media stories, SecondStreet.org calculated that Canada’s oil and gas and mining sectors lost about $196 billion in investment between March 2014 and March 2019.
That’s in addition to tens of billions in foregone tax revenues and the loss of tens of thousands of jobs across the country.
Did you know that Ontario is a hotbed for mining activity in Canada? The industry is active in all parts of the province in a diverse set of communities including Sudbury, Windsor, Midland, Timmins, Perth, Marathon, North Bay and Attawapiskat to name a few.
The further north you get in Ontario, the more important mining becomes to local economies. In the far north of the province, mineral resource development is especially critical to business and employment opportunities.
As Canada's largest private sector employer of First Nations, the contribution of the mining industry to the well-being and development of remote communities across the country is significant. But secluded municipalities aren't the only ones that benefit from the sector.Read more
Oil, natural gas, minerals, softwood lumber, water... you name it, chances are Canada has it. After all, it is the second largest country in the world with an incredibly diverse array of landscapes and geology from coast-to-coast.
In Canada, natural resources such as oil, potash, uranium and wood are extracted to some of the highest environmental and labour standards in the world. Such operations also bring massive benefits to governments of all levels in all provinces in the form of taxes and royalties.
So, what are the natural resources that Canada has in abundance? Here's a breakdown...Read more
Any Canadian who’s remotely familiar with nuclear technology has probably heard of uranium. A little factoid: it's an essential part of nuclear reactors across the country and around the world, with about 15% of Canada's total production used to support CANDU reactors in Ontario and New Brunswick.
But did you know that Canada happens to be the second largest uranium producing nation? This metal is found in abundance within the country, and uranium mining in Canada - Saskatchewan in particular - is nothing new.Read more
Canada's a nation that's rich in natural resources. From minerals to petroleum to lumber, the natural resource sector is the backbone of prosperity in Canada, contributing about 20% to the nation's gross domestic product (GDP) every year.
More specifically, the forest industry plays an important role in Canada’s economy on both a provincial and federal level. To give you an idea of just how important it is, we’ve compiled numbers showing how it contributes to economies across the nation.
- The Oil and Gas Industry is Active Across Canada
- Canada's Petroleum Industry: By the Numbers
- 10 Reasons Why the Oil & Gas Sector is Important for Canada
Just how important is Canada’s natural resource sector to Canadians? Very, very important, to say the least, even for those who may not work in the sector directly (see more below). But don’t take our word for it…
Here’s some recently released statistics from the federal government that show exactly why Canada's natural resource sector is critical to the national economy and overall prosperity.
Canada has a long list of different natural resources found in abundance throughout its provinces and territories. Oil, for example, is found in vast amounts in Alberta, with the world’s third largest recoverable reserves - or about 10% of the world's total share.
Minerals are another natural resource found in abundance in Canada. A few examples: Canada ranks 1st, 2nd and 3rd in the world for production of potash, uranium and platinum group metals like nickel, for example.
Perhaps the most important of all of Canada’s resources (essential to life) is its fresh water. Here’s some interesting facts and a great photo relating to fresh water in Canada.Read more
Canada's natural resource industries (mining and minerals, forestry, energy) are the backbone of its prosperity. The forestry sector alone accounts for a considerable amount of the national gross domestic product (1.6%) and mass employment across the country (over 230,000 jobs in 2017).
With the third largest forested area in the world (next to only Russia and Brazil), Canada’s forests are without a doubt a critical part of its economy. To preserve them, federal law requires any harvested public lands to be replanted.
This is a prime example of Canada’s commitment to being a responsible environmental steward. In 2014 alone, more than 540 million seedlings were planted nationwide. Many of these were to replace groves cut down by the industry...Read more
As the second largest country in the world, Canada is fortunate to have an incredible diversity and wealth of natural resources which play an important part in its high standard of living and national economy.Read more