The Prime minister of Canada describes oil and gas sector of canada as an emerging " energy power". The potential is real and its on its way to being realized along the associated benefits of being in many jurisdictions across the country In 2005 the industry accounted for a quarter of provincial GDP.With 179 billion barrels of crude oil Canada reserves are second only to Saudi Arabia. Based on current on current projections canada will climb for eighth to fourth place in terms of production by 2015, jumping ahead of Norway,china,Mexico and Iran.
In 1997, Hibernia first year, capital investment by the oil and gas sector across canada stood at 19 billion. In 2009 the figure will come in at 45 billion. While oil and gas provinces Alberta and B.C have seen activity surge.Unemployment in Labrador rose and many people had to move.

Canada government needs more supplies of all energy sources,including oil and natural gas to meet growing energy demand and provide consumers with reliable supplies of fuel.

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