Canada is the number 3 biggest oil reserve in the world but why people live poor?

[whistlingwh0res]

why? where they spending money for?

[DryGermanGuy]

I don't know where you get this idea from...

Quote: "Canada has a strong cooperative banking sector, with the world's highest per-capita membership in credit unions. It ranks low in the Corruption Perceptions Index (14th in 2023) and "is widely regarded as among the least corrupt countries of the world". It ranks high in the Global Competitiveness Report (14th in 2019) and Global Innovation Indexes (15th in 2022). Canada's economy ranks above most Western nations on The Heritage Foundation's Index of Economic Freedom and experiences a relatively low level of income disparity. The country's average household disposable income per capita is "well above" the OECD average. Canada ranks among the lowest of the most developed countries for housing affordability and foreign direct investment."

https://en.wikipedia.org/wiki/Canada

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

[Naydyonov]

Canadians aren't poor, they're just not as rich as they could/should be. This mostly relates to R&D spending having fallen compared to other countries such as Israel, America, South Korea, Taiwan; slower growth over time has meant that from parity, Americans are now richer per capita than Canadians, and from a significant advantage, other countries which started off poorer than Canada, but had faster growth, have now approached, reached, or surpassed Canadian per capita income.
The real question is not why Canadians are poor, but why Canadians aren't ~$20kUSD/year richer.
This is because instead of investing lots of money into technology or startups, Canada invests mostly into housing. Housing doesn't actually grow the economy on a per capita basis very much at all. It doesn't make an economy more productive at this point, though it can be argued that in the past, with overcrowding, allowing more space per person did make them more economically functional.

[provokeesmokee]

Do you think Canadians each get a barrel of oil every week or something?

The gas companies are bleeding us dry.

[jshm2]

It isn't close to number 3, kiddo.

Also, is poor because it is under developed. It has a landmass as big as the USA, but a population close to the UK.

[exitseven]

I have been to Canada several times. I did not see any real poverty. It is not as bad as the US.

[BarryLiverstone]

Because in every country there will be people living below the poverty line

[Anonymous]

Did I hear that nice Mr trudeau got voted back in again?

[Redstang88]

Trudeau