Economy of Alberta
Although Alberta has a presence in many industries such as agriculture, forestry, education, tourism, finance, and manufacturing, the politics and culture of the province have been closely tied to the production of fossil energy since the 1940s. Alberta—with an estimated 1.4 billion cubic metres of unconventional oil resource in the bituminous oil sands—leads Canada as an oil producer. Alberta's GDP in 2018 was CDN$338.2 billion. In 2018, Alberta's energy sector contributed over $71.5 billion to Canada's nominal gross domestic product. According to Statistics Canada, in May 2018, the oil and gas extraction industry reached its highest proportion of Canada's national GDP since 1985, exceeding 7% and "surpass[ing] banking and insurance" with extraction of non-conventional oil from the oilsands reaching an "impressive", all-time high in May 2018. With conventional oil extraction "climbed up to the highs from 2007", the demand for Canadian oil was strong in May. From 1990 to 2003, Alberta's...
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