Canada should prioritize exporting natural resources: Report

The Cenovus Energy's Foster Creek plant, about 330 kilometres northeast of Edmonton, Alberta....

The Cenovus Energy's Foster Creek plant, about 330 kilometres northeast of Edmonton, Alberta. (Cenovus Energy)

Daniel Proussalidis, National Bureau

, Last Updated: 6:54 PM ET

OTTAWA -- Extracting and exporting oil and gas is tops in terms of national economic benefit, a University of Calgary economics professor says in a new report.

"The value-added content of Canadian energy exports is far larger than any other sector out there," said Trevor Tombes.

Tombes released a new report Tuesday that he hopes will dispel some "myths" about the energy sector.

One of those myths, he says, is that exporting natural resources is not as good as exporting a finished or processed product.

"This idea that hewing wood and drawing water is regressive economic activity is just obsolete," said Tombes.

His report points out that the average job in the oil field pays $100 an hour, compared to half that in auto manufacturing.

Tombes also figures that mining the oilsands and extracting conventional crude oil adds four times as much value as the manufacturing sector does to an exported product.


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