The Canadian Oil Industry's Impact On Canada

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The Canadian Oil Industry’s Impact on Canada. The Overview: The Canadian business market is a diverse, multi faceted and one of the best functioning mixed market economies in the world. One of the biggest and most influential sectors in the Canadian market is the oil and gas industry. This industry affects every person around the world and affects nearly every part of business worldwide. This growing industry could allow for Canada to be the one of the “biggest energy producers in the world.”1 This diverse and large industry has many controversial topics however this essay will focus specifically on Pipelines, Canadian oil and…show more content…
The next process is well development where the construction of the well(s) begins. The next stage is the production process where hydrocarbons are extracted and separated from the oil for resale. Finally, site abandonment involves plugging the well(s) when the well lacks the potential to produce high quantities of oil or gas. Although this process has been met with controversy since it began. Firstly, the tar sands themselves are on one of Canada’s oldest and largest boreal forests (one of the biggest in the world) and large tracts of land must be cleared to reach this product. Secondly are the environmental issues that arise. The bitumen that is extracted takes a very high-energy extensive process to get its final product and it takes astronomical figures of water in the refining process and last but not least is the waste that this process creates. Including the co2 footprint and All of the water the is used in the reining process must be held in tailing ponds because the are not reclaimable into the wild and are considered highly toxic. Global factors of the oil and gas industries may be the most important because they affect the whole

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