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Apr 5, 2021 · Think you know everything about oil? We’ve compiled facts and startling statistics about this versatile commodity. We’re sure that these oil facts will surprise you! Basic Oil Trivia. 1. Traditionally, crude oil is measured in barrels. These are each equivalent to 42 US gallons (or a little fewer than 159 liters). 2.
See what the internet looked like on July 2nd, 2014. Data provided by the Internet Archive. Support efforts to archive the web here . Get new posts! See what the internet looked like exactly ten years ago today.
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After WTI fell at the end of 2014 and ultimately hit prices below $30 less than two years ago, most oil traders and oil producers are thankful for what is seen as a rebound.
- Canada’s energy industry paid over $701 billion in federal, provincial and local taxes, royalties, and fees since 2000. That is: Nearly twice the latest forecast of the federal budget deficit of $354 billion for 2020/21;
- Since 2000, Canada’s oil and gas sector alone paid nearly $505 billion to federal, provincial, and local governments. This is almost the same as the real estate and construction sectors combined (at $510 billion); and.
- Alberta taxpayers made a $272 billion net contribution to federal government finances between 2007 and 2019. The direct share from Alberta’s oil and gas extraction sector was, at a minimum, nearly $53 billion, about 9 per cent of gross Alberta contributions and 19 per cent of Alberta’s total net fiscal contribution over the period.
- The oil and gas sector makes an outsized contribution to the Canadian economy, when healthy or when enduring a slump. Average weekly earnings are highest in oil and gas extraction at $2,740 weekly in 2019 compared with $1,534 in aerospace, $1.427 in motor vehicle manufacturing, and $1,029 for the average of all industries.
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Between 2010 and 2020, Canada’s oil imports were worth a total of $231.1 billion. U.S. oil imports accounted for nearly $84.2 billion, followed by imports from Saudi Arabia at $26.3 billion. That is over $110 billion in foreign oil imported to Canada from those two countries alone in that decade. International Merchandise Trade Database. 48.
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