Heating up – Oilweek Magazine

2014-Aug-13

The oilsands sector has been under siege from environmentalists, some liberal-leaning politicians, aboriginals and others, but there are few who debate the economic benefits flowing to Alberta and Canada from the industry.

 The studies about the industry’s macroeconomic impact abound.

For example, there’s a recent study by IHS CERA that concludes that the industry has created 478,000 total jobs in Canada, including all the “spinoff” employment.

In addition, the study points out that the Alberta government’s coffers have swelled since 2012, thanks to the oilsands sector, to the tune of more than $7.7 billion in taxes and $4 billion in royalties. The federal government, meanwhile, has received more than $15 billion in tax revenue since 2012, according to the study.

Read more: http://www.oilweek.com/index.php/oil-and-gas-news/business/550-heating-up