Which companies are making the most money in the energy sector?
Truck refrigeration is the biggest energy sector employer in Quebec, but it is a different story in British Columbia.
According to data from the Ontario Energy Research Agency, truck refrigerators in British Canada have made a net profit of $1.5 billion in 2016.
That’s a massive number, considering trucking in British Colombia has a gross profit of just $1 billion in the same year.
The industry is making a ton of money in both countries.
In Ontario, the trucking industry is the third largest employer, after oil and gas, and the second largest private sector employer after construction.
In British Columbia, it’s the fourth largest employer.
Truck companies have been making money in Quebec since at least the 1980s, and that has been driven by cheap gas.
Gas prices have been plummeting in Quebec over the last few years, as the province has seen the construction of pipelines and other infrastructure as well as the oil and natural gas boom.
It’s also not hard to find trucking companies that make money in British Columbias second largest province.
A Canadian oil pipeline has recently been built through Quebec, connecting the province to Nova Scotia.
British Columbians also have plenty of other options when it comes to trucking, which are often more lucrative.
Driving around B.C., I found a lot of people buying gas-powered vehicles.
One trucking company told me that they’re getting around 100,000 vehicles a year.
The company didn’t specify which trucks they bought, but one trucking executive said the company would buy at least 2,000 trucks a year for a total of $100 million in 2016, for a profit of around $20 million.
The trucking executives also told me they’re starting to see a resurgence in the oilpatch in B.S. The industry is growing in British BC, with a record high of 7,800 new rigs built in 2017.
There’s a lot to look forward to in the years ahead, and we will see whether or not trucking makes a comeback in British North America.
Read more articles by Lauren Burt