A report this week from a new Toronto-based think tank estimates that in the last five years Canada has lost over $196 billion of investment in oil and gas, mining and forestry projects.
It’s “at least in part” due to government policies, according to the policy brief by secondstreet.org president Colin Craig.
The organization took that $196 billion value and compared it to recent major projects across Canada in order to “put it in perspective,” equating it to:
- 140 Pattullo Bridges (B.C. bridge)
- 290 Rogers Place (Edmonton Oilers arena)
- 600 Mosaic Stadiums (Saskatchewan Roughriders stadium)
- 780 IG Fields (Winnipeg Blue Bombers stadium)
- 35 Scarborough Subway extensions
- 45 Champlain Bridge Corridors (Montreal)
- 15 Muskrat Falls Dams (Newfoundland and Labrador)
“Canadians know that a lot of people are employed when a new NHL arena is built. The value of all the mining, oil and gas and forestry projects that we’ve missed out on over the past five years is roughly the same cost of building an NHL-sized arena every single day for a year. These missed opportunities have affected tens of thousands of Canadian workers and their families,” Craig said in a statement.
“The world continues to use more and more minerals, petroleum and wood products. If Canadian workers want more job opportunities to provide those products, it will be crucial for governments to become more competitive and supportive of the natural resource sector.”