Canadian Petroleum Industry
Canada is one of the major world oil producers. Alberta is the Canadian Oil Patch. Petroleum industry has grown tremendously since the discovery of oil in Canada. Today the industry produces unrefined oil, natural gas and thousands of petroleum byproducts. It is one of the biggest employers in the country. The growth of the Canadian economy heavily relies on the oil industry. The various companies operating in the petroleum industry like the British Petroleum Oil company and many others pay millions of pounds in tax to the government each year. Alberta has been the biggest beneficiary of Canadian petroleum industry with millions getting direct jobs while even more benefit indirectly through subsidiary factories that have emerged. This has led to heavy migration into Alberta each year by job seekers. Those who are lucky to obtain jobs regularly send a share of their income to those left behind. This has to some extent ensured that the benefits of petroleum industry spread across the country.
The companies working in the oil fields of Alberta make huge profits every year. A share of this is paid to the administration of Alberta and to the Canadian central government, earning them a lot of revenue. Infrastructural development has been witnessed in Alberta mainly due to the growing petroleum dealing companies. The governments of Canada have also been able to improve social amenities for the citizens from petroleum revenue.
Oil production has had its own share of demerits. Pollution is one of the worst effects of oil production. Emissions emanating from burnt fossils are blamed as the biggest source of environmental pollution. Carbon dioxide produced by the petroleum products is also dangerous. With the world now struggling to counter the effects of pollution that have led to adverse climatic conditions, oil and oil products are on the receiving end. The other disadvantage of oil is that is a non renewable energy source. This means that the peoples’ hope of petroleum products ever getting cheaper is a pipe dream. As the world nears depletion of oil reserves, the products prices will keep rising each day. Petroleum industries have for instance in Canada eclipsed other industries completely leading to heavy migration from other towns to Alberta where more oil related opportunities are. This has led to heavy strain of resources in such centers. It has also led to rise in social problems like crime and joblessness.
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