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Postwar Prosperity • In the postwar economic boom,
mining, forestry, and other natural resources industries remained the heart of the Canadian economy
• The discovery of oil in Leduc, Alberta in 1947 marked Canada’s entry into the international oil market
Megaprojects
• The federal government used tax revenue to fund megaprojects. These in turn created more jobs and thus even more tax revenue
Canada: the 49th state?
• The economic boom in Canada led to an increased demand for foreign, and especially U.S., investment
• This was (and still is!) problematic for many Canadians
Pros vs. Cons Pros
• More jobs
• Better technology
Cons • Profits go back to
the United States
• U.S. ownership = less Canadian control
You decide…
By 1957, Americans controlled:
• 70% of oil and gas investment
• 52% of mining and smelting
• 43% of Canadian manufacturing
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