Quote:
Originally Posted by Yikes
It's an Alberta thing...alot of people in O&G think that the contribution to the country is HUGE...when really it is not. I don't how accurate 10% of GDP is but I would have to think that is pretty close. It's not a small number but on the other side of the coin if half of it disappeared...not that big of a deal in the big picture.
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You need to look at percent of exports and inflows of capital to understand the importance of O+G to Canadas economy.
https://en.m.wikipedia.org/wiki/List...orts_of_Canada
Also if you look at Cars exports = imports roughly so it’s net affect is still really just a service industry for Canadians. Essentially rich countries exports goods and services that use low amounts of labour for goods that are labour intensive creating the ability to generate economic surplus.