The Ripple Effects Of Lower Oil Production and Investment

Between the pandemic and oil price crash, oil producers in Alberta have been compelled to cut both capital expenditures and production. This, in turn, means fewer jobs, lower exports, reduced demand for goods and services used by the oil sector, truncated government royalties and stunted economic growth overall.

In an effort to quantify the economic impact of the cuts, Statistics Canada released a study last week entitled “The Decline in Production and Investment in Canada’s Oil and Gas Sector and its Impact on the Economy.”

The study found…