Canada’s Energy Resources Emerge as Dominant Economic Force, Exceeding 75 Times the Value of Other Natural Assets

Recent data from Statistics Canada unveils a staggering revelation – the value of Canada’s energy resources surpasses the combined value of the country’s other natural resources by more than 75 times. Led by the oil sands, Canada’s oil, gas, and coal assets reached a substantial $1.6 trillion in 2022, equating to approximately $41,000 per Canadian.

In stark comparison, forest timber and minerals, including potash, iron, and copper, accounted for $907 billion (around $23,000 per Canadian). The oil sands in Alberta alone contributed a remarkable one-third of Canada’s total natural resource value, amounting to approximately $860 billion.

Statistics Canada’s report underscores the pivotal role of energy resources as Canada’s primary contributor to natural wealth in 2022. Furthermore, energy products emerged as the country’s largest export in the same year, valued at nearly $230 billion, with consumer goods as the second-largest export at $84 billion.

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