Oil Sands Industry Expected to Add $2.1 Trillion and 905,000 Jobs to Canadian Economy
The Keystone Pipeline project was expected to create tens of thousands of high paying jobs in the oil industry. The project itself would create 20,000 construction jobs. And the pipeline would bring oil from Canada and North Dakota to refineries in the United States.
But it was just a big pipe dream.
Obama rejected the plan.
But while Obama fiddles a new report reveals the oils sands industry will add an estimated $2.1 trillion to Canada’s GDP and fund up to 905,000 jobs a year.
CICS News reported:
A comprehensive report on the challenges and opportunities of Canada’s oil sands by auditing giant Deloitte projects that the hydrocarbon deposits will contribute an estimated $2.1 trillion to Canada’s GDP over the next 25 years.
The economic benefits of the added wealth include up to $783 billion in extra tax revenues over the period, which will provide a significant boost to local, provincial and federal governments and help them meet the growing costs of providing social services to an ageing population.
In addition to tax revenue, the export revenue generated from oil sands production will fund up to 905,000 jobs a year according to the Deloitte report.
Of course, the US could see similar results.
But Obama and Democrats are blocking progress.
It’s an Obama world.