Business investments in oil and gas in Canada have declined by 52% since 2014: report

The Trudeau Liberals have overseen a massive decline in business investment in the extraction sector, which includes oil, gas, mining and quarrying, coinciding with a decline in living standards for Canadians.

Business investments in oil and gas in Canada have declined by 52% since 2014: report
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A new report has revealed the stunning decline of business investment in Canada's natural resource sector under Prime Minister Justin Trudeau. According to research from the Fraser Institute, when adjusted for inflation the nation's oil and gas sector has seen a decline of 52.1% since 2014.

The drop off is even more steep in the non-conventional oil extraction sector, which includes fracking and oilsands, where business investments have declined a massive 71.2% in the same timeframe.

A key factor behind the significant decline in business investment is regulations imposed by the Trudeau government on the extraction sector, says the report. The extraction sector, in addition to oil and gas, also includes mining and quarrying.

For the conventional oil and gas sector, investments fell from $46.6 billion in 2014 all the way to just $22.3 billion in 2022. In the non-conventional sector, investments declined from $37.3 billion in 2014 down to just $10.7 billion in 2022.

“As an example of such sentiment, in a 2017 speech Prime Minister Trudeau said it would take time to ‘phase out’ the oil sands, indicating
the long-term goal of the federal government to eliminate the fossil fuel industry,” the report states. “The prime minister’s comments were followed by a number of new regulations that directly or indirectly targeted the oil and gas sector.”

At the same time, Canada's stand of living has declined.

“On the world stage, Canada is one of the few advanced economies that has not recovered its pre-pandemic standard of living, measured by real gross domestic product per capita,” notes the Financial Post, citing how Canada's growth appeared impressive on the surface but was merely driven by a massive increase in immigration.

“Unfortunately, for Canadians, little turnaround in Canadian living standards appears to be on the horizon,” TD economist Marc Ercolao told the outlet last year.

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