The biggest losses, unsurprisingly, are in Alberta.
oil and gas market
Canadian capital spending in oil and gas fell by 19 per cent since 2016.
Effective Tax and Royalty Rates on New Investment in Oil and Gas after Canadian and American Tax Reform
Capital investment in Canadian oil and natural gas in 2017 was $45 billion, down 44 per cent compared to 2014.
Canadian oil and gas producers are unable to reach new Asian markets, costing the Canadian economy billions.
The proposed sale of Nexen Inc. to China National Offshore Oil Company (CNOOC) is being applauded by some as potentially opening the doors to Asian oil and gas markets and providing an assured source of capital for resource development. On the other hand, some regard it as yet another sale of Canadian petroleum resources to foreign interests that could have serious long-term implications for Canadian energy security.