Lifestyle and Leisure
Reasons to move: Resources
With the global credit crunch costing jobs across the westernised world, how has Canada’s economy managed to remain reasonably healthy?
Perhaps the answer to that question lies not in superior economic policy, but in the vast natural resources the country is blessed with.
As oil runs scarce and petrol prices rise, Canadians can rest assured that their huge oil fields and unexplored wells will put them in a strategically important position.
Although this alone might not represent a sufficient reason to emigrate, think about the implications that Canada's large forests, mines and natural energy sources have for the country's future. In a few years, the Canadians are likely to have one of the most successful energy-trading industries in the world. High oil and gas prices which will be financially crippling the UK will only be contributing to the Canadian economy. As that economy grows, infrastructure will improve, job opportunities will open up and crime rates are likely to drop. Indirectly, Canada's natural resources will boost everything from the quality of schools and teaching to the state of the roads. This is a country with a glowing future, and it isn't surprising that so many Brits want a piece of it.
So, exactly what resources does Canada have, and which industries are exploiting them?
Most celebrated, of course, are the country's huge natural energy reserves.
Stephen Harper touted Canada as an 'energy superpower' during a meeting with other G8 leaders in 2006, and he was certainly not underestimating it.
Canada's petroleum sector is a CDN$90 billion per year business, its natural gas wells are huge and it has vast underground stores of coal.
Perhaps as importantly, the country's geography is ideally suited to the development of sustainable energy methods, such as wind and water turbines.
The province that is currently benefiting most from its existing energy resources is Alberta – the oil sands at Edmonton may be an environmental hazard, but they are enriching the local economy at an astounding rate.
British Columbia is also benefiting from newly discovered oil wells.
But Canada's natural riches are not just in oil. Forestry is an important industry in the country – the Canadians are the world's largest exploiters of newsprint and the second-largest exporters of pulp and softwood lumber.
Canada has around 70 pulp mills, some of which are being adapted as bio-refineries capable of producing energy from under-used mill residue. By gasifying a by-product of the pulp process, a mill can produce sungas – which can be converted into power. This conversion, which is being pioneered by Ottawa, is good news for the environment as well as the economy.
Another successful industry which utilises natural Canadian resources is mining. More than half of the world's mining companies are listed in Canada, and mining firms raised more than CDN$8 billion on Canadian exchanges in 2006. Copper and coal are just two of the commodities which are adding to Canada's mined wealth.
Currently, Canada's natural resources are under-exploited. This means that the Canadian economy has yet to feel the full benefit of the country's assets. However, renewed efforts to explore the wealth buried beneath Canada should bear fruit in the near future.
If you want to be around to benefit from the energy boom when it really takes off, now is the time to apply for your Canadian visa.
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