The oil and gas industry makes enormous economic contributions that benefit all Canadians. Here’s a quick summary of the most recent statistics.
Every year, the oil and gas industry pays billions of dollars to governments. These funds help pay for important government services, such as education, health care and infrastructure, that benefit everyone living in Canada.
The numbers are huge! According to Statistics Canada, in 2009, the energy services sector alone paid $8.9 billion in federal, provincial and corporate taxes.
In 2013, Canada’s oil and natural gas industry paid a total of $18 billion to federal, provincial and local governments in the form of taxes and royalties.
That much money pays for a lot of teachers and classrooms, nurses and hospital beds, construction workers and highways.
Oil and Gas Royalties
One of the main ways governments – and their citizens – benefit financially from the oil and gas industry is through royalties. A royalty is the share the Crown (usually the provincial government) receives from companies producing oil and gas from Crown-owned resources.
Learn more about royalties in PatchWorks:
- Royalties Part 1: what royalties are, who pays them and how they are calculated
- Royalties Part 2: how royalties are collected and what they are used for
Our oil and gas industry supports more than 550,000 jobs across Canada. Not only do they have great jobs, these people shop and pay taxes too! Learn more about oil and gas jobs.
Oil and gas industry companies make up 20-25% of the value of the Toronto Stock Exchange. Many Canadian investors, mutual fund owners and pension plan holders are invested in oil and gas stocks.
In 2012, the industry made $62 billion in capital investments focused on innovation and growth.
- CAPP: Basic Statistics and Statistical Handbook
- Centre for Energy: oil and gas statistics
- National Energy Board: oil and gas statistics