The bigger Canada's energy sector grows, the poorer most people become.
by Stephen Leahy
Few people are aware Canada's GDP shot up from an average of $600 billion per year in the 1990s to more than $1.7 trillion in 2012. This near tripling of the GDP is largely due to fossil fuel investments and exports. However not many Canadians are three times wealthier. For one thing GDP is only a measure of economic activity, not necessarily of wealth. The other reason is that little of this new wealth stayed in Canada. And what did stay went to a small percentage of the population, worsening the gap between rich and poor.