Energy exports are almost two and a half times the value of exported cars, and critical minerals are coming on fast
Times haven’t changed as much as many people seem to think. Canada’s vast resource potential still generates both big economic opportunities and important diplomatic leverage in our relations with the United States and others. With our small domestic consumer market, we still owe much of our prosperity and influence to the export of commodities and resource-based manufactures.
Despite recent rhetoric, Canada has long been and still is an “energy super-power.” We are the world’s fourth-largest producer of crude oil and a trusted member of the West’s nuclear-fuel supplier group. With effective resource management and huge potential in liquefied natural gas (LNG), our global role in energy will only expand in coming years.
Most Canadians understand we produce oil but may not be fully aware how important these exports are. In 2024, crude oil and other energy products (including refined petroleum, natural gas, nuclear fuel and electricity) accounted for more than a quarter of all exports of goods and were 2.4 times larger than motor vehicles and parts (using trade data that excludes re-exports).
For the rest of this column: https://financialpost.com/opinion/opinion-oil-and-gas-not-cars-pay-canadas-bills