How much money does the oil industry make in Alberta?

Federal personal income taxes paid by tax filers employed in the oil and gas extraction sector in Alberta has ranged from $2.2 billion to $3.4 billion between 2007 and 2018, or an annual average of $2.7 billion per year over the period.

How much money does Alberta make from oil 2020?

Revenue for 2020-21 was $43.1 billion, which is $800 million higher than the third-quarter forecast reported in the budget, but $3.1 billion lower than the previous year. That revenue includes the $1.3-billion loss of the government’s investment in the now-cancelled Keystone XL pipeline expansion project.

How much does the oil industry make a year in Canada?

Oil Sands and Canada’s Economy

Canadian oil and natural gas provided $105 billion to Canada’s gross domestic product (GDP) in 2020, supported more than 500,000 jobs across the country in 2019 and provided $10 billion in average annual revenue to governments for the period 2017 to 2019.

What percentage of Albertans work in the oil industry?

The energy industry provided 7.7% of all jobs in Alberta in 2013, and 140,300 jobs representing 6.1% of total employment of 2,286,900 in Alberta in 2017.

Economy of Alberta.

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GDP CAD$338.2 billion
All values, unless otherwise stated, are in US dollars.

How much oil is left in Alberta?

Reserves and production

Alberta’s oil sands’ proven reserves equal about 165.4 billion barrels (bbl).

How much of Canada’s money comes from Alberta?

Alberta collects about 21 per cent of “Canada’s corporate taxable income”. The federal government collects more GST from Alberta because the families with higher incomes also spend more in Alberta. In 2015 Alberta had a net outflow of $27-billion.

What is Canada’s oldest industry?

The future of the fur trade: what Canada’s oldest industry is going through and what comes next.

How much tax do oil companies pay in Canada?

Between 2000 and 2018, the oil and gas sector paid federal and provincial corporate income taxes of over $59.9 billion, or $3.2 billion per year. Of that $59.9 billion, $38.7 billion was paid in federal corporate income taxes and $21.2 billion in provincial corporate income taxes.

Where is Canada’s oil?

Oil is a powerful and versatile source of Canadian energy that will be a part of the global energy mix for decades to come. Canada has about six billion barrels of remaining oil reserves located outside the oil sands, found primarily in Alberta, Saskatchewan and offshore Newfoundland and Labrador.

Who is the largest employer in Alberta?

Alberta Health Services

Programs and services are offered at over 450 facilities throughout the province, including hospitals, clinics, continuing care facilities, mental health facilities and community health sites. AHS is setting the national standard for quality health services as Alberta’s largest employer.

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Oil and Gas Blog