Alberta alone accounts for more than 96 per cent of Canada's oil reserves and in 2010, about 140,000 people were directly employed in the mining, quarrying,
oil and gas extraction sector, including the oil sands.
The details of the report show that declines in manufacturing and mining, quarrying and oil and gas extraction were the reasons for the negative month - on - month reading, with the 0.8 % contraction in the mining, quarrying, and
oil and gas extraction sector being the main drag as well as the most disappointing since it marked the third consecutive monthly decline.
Statistics Canada's estimate for MFP in the mining,
oil and gas extraction sector has been on a downward trend for decades.
Not exact matches
Some have argued the resource
sector isn't all that crucial to Canada's well - being, since mining
and oil and gas extraction directly account for just 4.5 % of the economy.
Over the last year, the solar industry added jobs twelve times faster than the rest of the economy, even more than the jobs created by the
oil and gas extraction and pipeline
sectors combined.
Increases in
oil and gas extraction as well as support activities for the mining
and energy
sector more than offset a drop in mining
and quarrying.
MLP investment opportunities tend to be in the energy
sector because 90 % of the income generated by an MLP must come from exploration, mining,
extraction, refining of
oil and gas and the transportation of alternative fuels like biodiesel.
Compare this with agriculture,
oil and gas extraction,
and computer
and electronics product manufacturing; those
sectors contributed 1.0 percent, 1.1 percent,
and 1.5 percent, respectively.