As the world's third-largest reserve holder and fourth-largest producer and exporter, Canada's reliance on foreign oil is shockingly significant. Between 1988 and 2020, Canada imported approximately $488 billion of foreign oil. According to Statistics Canada, we've imported over $23 billion from...
Canadians often hear about the billions of dollars that natural resources contribute to our economy, but can any of us really understand how much money that is? When you hear about Canada’s natural resource sectors – energy, mining, forestry, agriculture – and the tens of billions of dollars the...
Last year was for the record books, and not in a good way. Canada – and most of the world, for that matter – grappled with the fallout from COVID-19 in varying degrees since the beginning of 2020. Such a year can only be described as catastrophic for millions of Canadians from coast-to-coast. Wi...
Key Points • Recent purchases by major refiners point towards strong global demand for Canadian oil now and in the future. • There is tremendous global demand for Canadian oil. Alaska, Texas, Mexico, Venezuela, Brazil, Colombia, Ecuador, Angola, Nigeria, Denmark, Norway, the U.K., Russia, Iran, I...
While Canada is still coping with COVID-19, many Canadians are uncertain what an economic recovery is going to look like in the months and years ahead. But one thing we can count on during this time is our resilient natural resource industry which can prop up our economy for a stronger recovery ...
Key Points • Is the oil industry really “dead” as some are saying? Explores the suggestion by Canadian political leaders Elizabeth May and Yves-François Blanchet earlier last week.• Several facts from pre, during and post coronavirus that point towards continued growth in global demand for oil fo...
Just how important is oil and gas to the Canadian economy? We gave the best answer we could in a previous blog, but new studies by the Canadian Energy Research Institute (CERI) shed even more light on the topic. Two CERI reports released in July of 2019 forecast the economic contribution of both ...
The IMD World Competitiveness Rankings 2019 named Canada the 13th most competitive country out of 67 nations, the lowest ranking for the “Great White North” since the annual survey began in 1997. Canada dropped from 10th in 2018 to 13th this year, being outperformed by Ireland and Qatar which jum...
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. This analysis uses real-world comparisons to help us grasp just how much $196 billion is. ...
Did you know that 4 of Ontario’s oil refineries make up about 20 per cent of Canada’s total refining capacity, and that about 80 per cent of their feedstock comes from the western part of the country? When it comes to refinery output and the economy, the larger the numbers, the better the economi...