History
The Canadian petroleum industry developed in parallel with that one of the United States. The first oil well in Canada was dug by hand (rather than drilled) in 1858 by James Miller Williams near his asphalt plant at Oil Springs, Ontario. At a depth of 20 metres (66 ft) he struck oil, one year before "Colonel" Edwin Drake drilled the first oil well in the United States. Williams later went on to found "The Canadian Oil Company" which qualified as the world’s first integrated oil company.
Petroleum production in Ontario expanded rapidly, and practically every significant producer became his own refiner. By 1864, 20 refineries were operating in Oil Springs and seven in Petrolia, Ontario. However, Ontario's status as an important oil producer did not last long. By 1880 Canada was a net importer of oil from the United States.
Canada's unique geography, geology, resources and patterns of settlement have been key factors in the history of Canada. The development of the petroleum sector helps illustrate how they have helped make the nation quite distinct from the United States.
At its recent peak in 1973, over 78 per cent of Canadian oil and gas production was under foreign ownership and over 90 per cent of oil and gas production companies were under foreign control, mostly American. It spurred the National Energy Program under the Trudeau government.
Read more about this topic: Petroleum Production In Canada
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