Alberta's economy does not really depend on oil and gas.
Claimed by: Sometimes argued to downplay separation risk
False: False as written according to the settled evidence. How we rate.
Summary
Oil and gas remain the backbone of Alberta's economy. Mining and oil and gas extraction is the single largest industry at roughly 18 to 22 percent of provincial GDP, and the energy sector supplies the large majority of Alberta's exports and a big share of government revenue. That concentration is exactly why provincial revenues swing so sharply with oil prices, turning multibillion-dollar surpluses into deficits and back again. The economy has diversified somewhat into services over the decades, but the claim that Alberta does not really depend on oil and gas runs against the data.
Evidence
Mining and oil and gas extraction is Alberta's largest industrial sector at roughly 18 to 22 percent of GDP and supplies most of the province's exports.
Heavy dependence on energy commodity royalties makes Alberta government revenue prone to wild swings, and the province is the most reliant on US demand for its exports.