Taxes and royalties paid by these companies also help government in paying for many public programs and services. ; The American Petroleum Institute (July 2017). Attribution and specific restrictions on usage including non-commercial use only and no changes to material should follow guidelines enunciated by Creative Commons here: Attribution-NonCommercial-NoDerivs CC BY-NC-ND. Despite the enormous economic growth that oil sands development has spurred in Alberta, distribution of benefits has been uneven overall. Sources (Links live as of September 29, 2020). "height": "700", "d": "NYMEX Natural Gas" "s": "FX_IDC:CADUSD", { "width": "100%", }, ", "s": "TVC:USOIL+NYMEX:ICL1! Alberta and its main industry support thousands of jobs and create billions in GDP and markets for Ontario businesses. { "tabs": [ "s": "INDEX:DJI", “¢ The oil sands have spurred massive economic growth in Alberta. ] "belowLineFillColorFalling": "rgba(255, 74, 104, 0.05)", } The oil and gas sector in Canada has a significant impact on Ontario’s export sectors, directly and indirectly, as does the purchase of goods and services by citizens, businesses and governments in the province where the oil and gas sector is concentrated, i.e., by those in Alberta. Thank you for stopping by! "d": "Brent Crude" }, Receive our free newsletter with energy stories and news that matter to Canadians. Alberta imposed output limits on large oil producers at the beginning of 2019 after a storage glut formed due to a pipeline shortage, causing local oil prices to plummet. As a proportion of Ontario’s manufacturing sub-sectors, Alberta purchases ranged from 6 per cent (wood, pulp and paper) to 30 per cent for furniture, and also 30 per cent for refined petroleum products. If you do not see a subscription sign-up form above, it may be because your browser has an ad-blocker set up. "s": "INDEX:JX", In Alberta, oil and natural gas development supports: 30% of all economic activity in the province; 415,000 jobs for Albertans, including those from spin-off economic benefits; 20,000 businesses that directly or indirectly depend on oil and gas activity, including 399 Indigenous-owned businesses; API definition of the oil and natural gas sector includes conventional oil and gas extraction; non-conventional oil extraction; support activities for oil and gas extraction; natural gas distribution, oil and gas engineering construction; petroleum refineries; petroleum and coal product manufacturing (except petroleum refineries); petroleum product wholesaler-distributors; gasoline stations; crude oil and other pipeline transportation; pipeline transportation of natural gas. { }, In 2011, 1 in every 14 persons with a job in Alberta was directly employed by the oil and gas and mining industry, that’s around 151,000 Albertans! "d": "DOW JONES Index" Context: Energy Examined aims to provide an engaging insider’s perspective for the public. ", *Sourced from Canadian Energy Research Institute, Government of Alberta. "d": "CDN Crude Index" This magazine website is published by the Canadian Association of Petroleum Producers as part of an ongoing dialogue with Canadians. Was responsible for adding $7.3 billion in nominal GDP to the Ontario economy; Generated $14.4 billion in outputs, consisting primarily of the value of goods and services produced by sectors in the Ontario economy; Supported over 68,000 jobs, directly and indirectly, in Ontario’s economy; and, Paid $2.1 billion in wages and salaries to workers in Ontario³.
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