Oil, gas contributes to declining investment in Canada’s mining industry
Ten of the 15 nongovernment sectors that make up the Canadian economy experienced declines in business investment from 2014 to 2017, according to the most recent years of available data.
Independent Canadian public policy think-tank, the Fraser Institute, on Wednesday revealed that the country’s mining industry, which includes the oil and gas sector, had experienced the largest decline in investment over that period.
Much of the concern expressed about Canada’s weakening competitiveness has focused on the oil and gas industry, a study undertaken by the think-thank showed.
Regulatory restrictions on new pipeline capacity were limiting exports of Western Canadian crude oil and, therefore, contributing to low prices for crude oil with resulting product declines for domestic oil and gas companies.
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