Canada’s top economist isn’t on board with the theory that the oil sands industry is killing manufacturing in Canada.
Bank of Canada governor Mark Carney told reporters yesterday that struggling businesses should be increasing their involvement in the booming resource sector.
He says the oil sands are actually helping in struggling provinces like Ontario, whose exports to Alberta have gone up 40% in just over a year.
He also says one out of every 12 oil sands suppliers is based in Ontario.
Published July 19, 2012
