Part 5/10:
Oil and gas operations account for approximately 5% of Canada's economy, rendering it one of the very few industries still on an upward trajectory within the nation. Virtually all Canadian crude oil originates from Alberta, where oil sands yield millions of barrels of thick tarlike oil each day. Historically, the U.S. served as a major market driving demand, but Canada’s dependence on this single buyer has increasingly complicated its economic interests.
With rising global demand for oil emanating especially from Asian markets, Canada has been striving to shift its focus abroad. However, Alberta’s geographic location—landlocked and distanced from both coasts—poses logistical challenges in exporting oil more broadly.