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Oil Sand Industry Analysis

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Almost every Canadian residing within this province could visibly see the relationship between our economy and the energy industry, specifically the oil sands. The growth of this province is mainly correlated with the development that we have seen with the Alberta oil sand operations. As the oil prices rise during the bull cycle, the province becomes prosperous, providing jobs, opportunities, and funding for a variety of social programs. However, as the oil prices tumble during the bust cycle, we start to see how intertwined our economy really is with the energy industry. The oil sands is an economic driver that not only provides direct jobs for many, but in addition provides many indirect jobs as well. Revenue from the sale of oil has assisted in the development and continued funding for many infrastructure projects and social programs not only for the province of Alberta, but for the rest of the Canadian provinces as well. Simply stated, we are largely dependent on the oil sands to drive our local economy. …show more content…

The operation and refining processes alongside transportation of the refined oil pose a significant risk to the environment. From the digging and excavating that occurs up north, to the refineries that refine the oil sand, to the pipelines that transport our oil, we are harming the environment. Tailing ponds, carbon emissions, destroying of wildlife habitat and oil spills are just a few of the many large issues that plague our oil sands industry. We essentially place our blind faith in the oil companies that reside within our province to reduce and possibly eliminate the impact that the oil sands have on the

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