Canadian Industrial Profile: Mining, Oil and Gas Support Activities—Summer 2018
The Conference Board of Canada, 2 pages,
August 2, 2018
This industry profile provides a five-year forecast for Canada’s mining, oil and gas support activities industry.
- Social Licence—Development of new resource-related infrastructure still faces considerable opposition due to environmental concerns and issues related to Indigenous treaty rights. This has weighed on industry investment in recent years.
- Transportation Issues—A lack of new pipeline capacity exiting Western Canada continues to result in a significant discount on Canadian crude prices, hurting revenues for oil and gas producers, with spinoff impacts for support services.
- Prices—Although still well below pre-financial-crisis levels, some key commodity prices have increased over the past year, something that is supportive of new exploration and development activity.