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The oil and gas industry in Canada - Research Paper Example

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Today, this industry provides hundreds of thousands of jobs for Canadians and contributes immensely to the national wealth and trade balance…
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The oil and gas industry in Canada
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The oil and gas industry in Canada

Download file to see previous pages... Most of Canada’s, which is about 283,000 cubic meters per day, is exported. Most of it is imported to the United States.
The production of oil and gas in Canada is very efficient. For instance, over 25,000 new oil wells were sunk in 2005. In Alberta province, over 100 new wells are dug every day. Production operations include upstream (mainly, exploration and production of gas and oil), and downstream (here oil and gas is refined, distributed and sold). Most exploration happens in the province of Alberta with many operations in British Columbia and Saskatchewan (Daniel, 2012). Oil fields that have been of paramount importance to Canada economically include, Athabasca Oil Sands in Alberta, White Rose oil field, Terra Nova oil field and Hamburg oil field in Alberta.
The oil and gas industry in Canada works within a complex framework of regulations and laws that govern and guide industry operation in terms of the environment, safety, hiring and personnel, land access, landowner rights, surface and mineral rights and many more. For instance, every gas and oil activity must be applied for and given approval before any work can begin. Some major federal players in the Canadian oil and gas industry include National Energy Board and Natural Resources Canada (Ballem, 2011).
National Energy Board established by parliament of Canada in 1959 is mandated with the regulation of international and interprovincial aspects of the gas, oil and electric utility industries. It therefore regulates energy development, pipelines and the public interest of the Canadian citizens as concerns matters of oil and gas. The
At the provincial level, there is BC Oil and Gas Commission, Saskatchewan Energy and Resources, Energy Resources Conservation Board (Alberta), Ontario Energy Board, Newfoundland and Labrador Natural Resources, and Nova Scotia Energy. The legislation in the oil ...Download file to see next pagesRead More
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