Investment in manufacturing vs oil sands
Â A fascinating tidbit from today’s Statistics Canada release on human activity and the environment (climate change):
In 2008, oilsands producers intend to invest $19.7 billion, up 23% after a 31% hike in 2007. This exceeds the total investment plans of $19.6 billion by all manufacturing industries [Chart 1.6 on page 25]. Oilsands investment has surpassed manufacturing because of its rapid growth, not because manufacturing has been weak. Just a decade ago, oilsands investment was less than one-tenth capital outlays by manufacturers ($1.4 billion versus $21.6 billion in 1998).