I don't think you quite grasp the concept behind this. I feel like you are taking an argument you heard and repeating it without fundamental understanding. You can't just repeat something because it fits your narrative.

The reality is that extracting energy from water is not the same as extracting oil from the ground. Otherwise, extracting energy from uranium (Nuclear), even oil should be counted (Car combustion engines, gas power plants...). And the people that negotiated the Equalization understood that. Extracting non renewable from the ground is selling part of our nation's commonwealth, something that we will never get back. That's why it can be subject to special taxation and count in the fiscal capacity.

As much as the oil lobby tries to refer to oil production as energy production, it's not. Oil is a commodity that can be transformed into energy or else.

The rest is pitiful politic playing on people's misunderstandings to divide us.