On 10 March 2015, the House of Commons Standing Committee on Finance started a study on the impact of lower oil prices on the Canadian economy. Over the course of three hearings, the Committee heard from 20 organizations and four individuals.

Chapters Two through Four of this report provide background information and witnesses’ views on global oil production and prices, the general global and Canadian economic impacts of falling oil prices, and other Canadian impacts of oil price declines, respectively. Chapter Five provides witnesses’ proposals for federal action to help mitigate the negative impacts of lower oil prices on the Canadian economy.