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  • 1. Canada’s oil and gas sector: The decline in production and investment and the impact on the economy Archived
    Stats in brief: 45-28-0001202000100045
    Description:

    The oil and gas industry is an important contributor to the Canadian economy, especially in Alberta. From the year 2000 onwards, its share in the total economy averaged about 5% of Canadian and 21% of Albertan GDP. The recent decline in oil prices will have a large impact on Canada's oil and gas industry, which in turn will affect other industries. This article estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks on the Canadian economy.

    Release date: 2020-07-08
  • 2. The Decline in Production and Investment in Canada’s Oil and Gas Sector and its Impact on the Economy Archived
    Stats in brief: 11-626-X2020007
    Description:

    This Economic Insights estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks in oil prices. Oil prices dropped sharply in March as the COVID-19 pandemic unfolded and as Russia and Saudi Arabia failed to reach an agreement to support oil prices by limiting production. In response, oil companies in Canada reacted by adjusting down both capital expenditures and production plan in 2020. This article uses input-output multipliers to estimate the impact of such cut backs in production and investment on GDP growth and jobs in the total economy under different scenarios.

    Release date: 2020-07-08
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  • 1. Canada’s oil and gas sector: The decline in production and investment and the impact on the economy Archived
    Stats in brief: 45-28-0001202000100045
    Description:

    The oil and gas industry is an important contributor to the Canadian economy, especially in Alberta. From the year 2000 onwards, its share in the total economy averaged about 5% of Canadian and 21% of Albertan GDP. The recent decline in oil prices will have a large impact on Canada's oil and gas industry, which in turn will affect other industries. This article estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks on the Canadian economy.

    Release date: 2020-07-08
  • 2. The Decline in Production and Investment in Canada’s Oil and Gas Sector and its Impact on the Economy Archived
    Stats in brief: 11-626-X2020007
    Description:

    This Economic Insights estimates the economic impact of the potential decline in production and investment in the oil and gas industry due to recent shocks in oil prices. Oil prices dropped sharply in March as the COVID-19 pandemic unfolded and as Russia and Saudi Arabia failed to reach an agreement to support oil prices by limiting production. In response, oil companies in Canada reacted by adjusting down both capital expenditures and production plan in 2020. This article uses input-output multipliers to estimate the impact of such cut backs in production and investment on GDP growth and jobs in the total economy under different scenarios.

    Release date: 2020-07-08
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