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.

Tory leader Pierre Poilievre calls for fairness amid Ottawa’s continued attacks of Alberta oil and gas.

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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.

WATCH: @EzraLevant spoke with Alberta Premier Danielle Smith about environment minister Steven Guilbeaults' incessant push for the destruction of the oil and gas industry.

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“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.

Environment Minister Steven Guilbeault proudly announces "even more ambitious" emissions regulations at the UN's COP28 climate conference. "We're now aiming for at least a 75% reduction for the oil and gas sector by 2030 in Canada." https://t.co/bKcoxEVfGR pic.twitter.com/DZttDk4riv

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“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.