Untapped Potential: Driving Canadian Prosperity Through Natural Resources

Western Business Coalition’s First Joint Policy Report

Canada is a vast country rich in natural wealth—from expansive forests to some of the world’s largest energy reserves to an abundance of minerals and metals to fertile farmlands, lakes and oceans.

Natural resources are more than just commodities; they are the backbone of our economy. Across the country, millions of Canadians—from skilled tradespeople to farmers to engineers and entrepreneurs—bring these resources to life, driving local prosperity and shaping our global reputation as a leader in resource development.

This extends from the primary industries of agriculture, forestry, fishing, utilities, mining, quarrying, and oil and gas, to “downstream” industries that depend heavily on resource-based inputs, such as pipeline transportation and resource manufacturing. All together, natural resource-related industries account for 17% of GDP, 70% of goods exports, 30% of capital investment, and offer some of the highest paying jobs in the country.

Their benefits ripple through the broader economy, sustaining jobs in small businesses, retail, and housing markets nationwide. But to fulfil our resource potential, Canada will need to be more competitive. We need policies that support—not hinder—economic growth. Policies that foster an environment that attracts investment, drives innovation, and enables resource development.

That is why the Western Business Coalition, which includes the Business Council of Manitoba, the Saskatchewan Chamber of Commerce, the Business Council of Alberta, and the Business Council of British Columbia, has launched its first major initiative—Untapped Potential: Driving Canadian Prosperity Through Natural Resources—to unlock the economic potential of Canada’s natural resource sector. This effort focuses on advocating for policies that drive investment, create jobs, and position Canada as a global leader in energy, agriculture, mining, forestry, and aquaculture.