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The Canadian petroleum industry is a commodity-based industry, subject to the world price for oil and the North American price for natural gas. Both are impacted by weather—not only the degree to which Canadian and US winters are cold and summers warm, but also by international occurrences, such as hurricane damage in the Gulf Coast. The resulting labor demands can fluctuate greatly with the unpredictability of commodity cycles.
Our industry is made up of both conventional and non-conventional producers. Non-conventional resources, particularly oil sands developments, are long-term projects that necessitate large investments, and as such, the labor requirements are not heavily influenced by short-term economic factors. Conventional oil and gas drilling and production, however, can be quickly affected through changes to exploration budgets.
DEMAND FOR SKILLED WORKERS
Since the new millennium, the Canadian petroleum industry has experienced an escalating demand for skilled and unskilled labor.
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