Edmonton is the major economic centre for northern and central Alberta and a major centre for the oil and gas industry.Edmonton traditionally has been a hub for Albertan petrochemical industries, earning it the nickname "Oil Capital of Canada" in the 1940s. Supply and service industries drive the energy extraction engine, while research develops new technologies and supports expanded value-added processing of Alberta's massive oil, gas, and oil sands reserves. These are reported to be the second-largest in the world, after Saudi Arabia.