What important discovery in Alberta in 1947 began Canada’s modern energy industry?
- Diamonds
- Gold
- Oil
- Potash
Answer: Oil
Oil was discovered in Alberta in 1947, and this began Canada’s modern energy industry. It was part of the postwar boom, when Canada had one of the strongest economies among industrialized nations.
Learn more: Trade, economic growth and social programs
- Trade treaties such as the General Agreement on Tariffs and Trade (GATT), now the World Trade Organization (WTO), opened up world trade.
- The discovery of oil in Alberta in 1947 began Canada’s modern energy industry.
- In 1951, for the first time, most Canadians could afford adequate food, shelter and clothing.
- Between 1945 and 1970 Canada had one of the strongest economies among industrialized nations. Today it has one of the world’s highest standards of living, supported by trade, especially with the United States.
- Old Age Security was first devised in 1927.
- The federal government introduced unemployment insurance (now employment insurance) in 1940.
- The Canada and Quebec Pension Plans began in 1965.
- The Canada Health Act ensures common elements and a basic standard of health coverage.
- Publicly funded education is provided by the provinces and territories.