Efficient and effective development of Canada’s natural resources is a critical component in the determination of long term economic growth and stability. In the past decade—despite the financial crisis—international market conditions have developed whereby rapidly rising crude oil prices and strong foreign demand have combined to generate significant resource wealth, but they have also contributed to creating economic challenges in the Canadian economy.

There have been numerous studies released during the past two years that extol the economic benefits of continued rapid expansion and export of Canada’s crude oil resources on the Canadian economy. The reports are used extensively by industry proponents who quote the vast benefits as if they were written in stone. Momentum has taken hold and too few pause with curiosity as to whether the benefit numbers actually make sense.

The purpose of “An Analysis of Canadian Oil Expansion Economics” (click link below to access the report) is to review these studies and examine whether or not the economic benefits served up are reliable and useful. What is revealed is that the reports present a biased narrative where industry benefits are falsely estimated while economic, social and environmental costs are ignored.

An Analysis of Canadian Oil Expansion Economics April 10, 2012