Due to low oil and gas prices in Canada, planned government and company expenditures on corporate construction, and machinery and equipment is projected to decrease 4.4% this year to CAD $241.6 billion ($186.6 billion). So far, capital expenditures for 2016 in the private sector have decreased 9.3%, hitting CAD $157.4 billion, while public companies’ expenditures have risen 6.5% to CAD $84.1 billion. In 2015, capital expenditure in the mining, quarrying, and oil and gas industry declined 31% and, in 2016, spending is projected to decline another 23%. For Alberta, the location of one of the heaviest crude oil reserves in the world, overall spending in the mining, quarrying, and oil and gas industry is forecast to fall 23% this year to CAD $47.7 billion, with companies in the industry planning to decrease investment by CAD $10.7 billion. Due to declining energy prices, there has been a CAD $50 billion loss in export revenues.

Source: Bloomberg