Bloomberg News

Canada's Oliver Projects C$650 Billion Resource Spending

September 04, 2012

Canadian Natural Resource Minister Joe Oliver said his government has estimated natural resource companies are planning to invest C$650 billion ($659 billion) in the country over the next decade.

That’s 30 percent more than the government had projected a year ago, Oliver said, according to the prepared text of a speech he’s giving today in Toronto. Oliver also said that his department estimates natural resource production accounts directly for 15 percent of Canada’s nominal output, and adds another 4 percent to output indirectly.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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