Inch by Inch: Commodity Sector Gaining Strength

A couple reports on the state of Saskatchewan’s petroleum sector show we do indeed have some life in this part of the economy.

For the casual listener, you’d think this sector of the economy is on life support with all the noise about pipelines, carbon taxes and climate emergencies. But, the exact opposite is actually the case. 

Saskatchewan grabbed the #1 and #7 spots in a recent report on competitiveness and profitability issued by ScotiaBank. It listed a play in the Frobisher/Alidaregion as tops in North America. And a second report, this one from the Fraser institute, polled industry players who ranked Saskatchewan as most attractive from an investment perspective.

In commenting on these reports, the provincial government noted that oil and gas continues to represent 15-percent of the total Saskatchewan economy. That makes it the largest primary industry segment in the economy, generating almost 35,000 years of work and more than $4 billion annual investment.