The NEP had a significant impact on the Canadian energy sector and the economy as a whole. Some of the key benefits of the NEP included:
* Increased Canadian ownership and control of the energy sector: The NEP led to a significant increase in Canadian ownership of the country's energy resources. By 1985, Canadian companies controlled over 50% of the country's oil and gas production, up from just 25% in 1980.
* Reduced reliance on foreign oil: The NEP also helped to reduce Canada's reliance on foreign oil. By 1985, Canada was importing less than 25% of its oil needs, down from over 50% in 1980.
* Promoted energy conservation and development of alternative energy sources: The NEP also encouraged energy conservation and the development of alternative energy sources. This led to a significant increase in the use of renewable energy sources such as wind and solar power, as well as the development of new technologies for energy efficiency.
Overall, the NEP was a success in achieving its goals of increasing Canadian ownership and control of the energy sector, reducing reliance on foreign oil, and promoting energy conservation and development of alternative energy sources. However, the NEP was also criticized for some of its negative impacts, such as its impact on the economy, the creation of a black market for oil, and the increase in the cost of living.