Crude oil facts

28 Dec 2018 | Canada
Crude oil facts

Did you know that almost a third of Canada's natural gas supply is used to extract bitumen from Alberta's oil sands? All to provide fewer jobs than Canada's beer industry. Jobs that are heavily subsidized by Canadian taxpayers. The IMF said Canada's fossil fuel subsidies cost us $46 Billion a year. Meanwhile, royalties have shrunk to next to nothing.

The truth is, the fossil industry survives only because it is, and has always been, heavily subsidized by the Canadian taxpayer.

Canada will still need oil during the global transition to renewable energy and non-toxic, compostable bio-plastic. The good news is we export far more oil than we use - all we need to do now is stop subsidizing it.

2017, Canadian supply and demand of crude oil:
Canadian production*: 4.2 MMb/d
Imports: 0.8 MMb/d
Exports: 3.3 MMb/d
Crude oil shipped to domestic refineries: 1.8 MMb/d

Source for graph: Alberta Energy July 2017 and Alberta 2017 budget estimates; production from CAPP and NEB; other resource revenue includes rental fees, lease sales and coal royalties.

Source: 2017, Canadian supply and demand of crude oil