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Fort McMurray braces for impact of oil price drop

Warrior Publications

A large welcome sign greets traffic travelling north on Alberta highway 63 as it  enters the town at the centre of Canada's oil boom, Fort McMurray.File from 2006.(THE CANADIAN PRESS/Bayne Stanley) A large welcome sign greets traffic travelling north on Alberta highway 63 as it enters the town at the centre of Canada’s oil boom, Fort McMurray. (THE CANADIAN PRESS/Bayne Stanley)

Spectre of coming cutbacks sends a chill over city sometimes called Fort McMoney

By Terry Reith, CBC News, Jan 17, 2015

Fort McMurray, Alta., the city at the heart of the oilsands, is already seeing signs of a slowdown as the price of oil sinks.

The boom town has weathered many a bust, only to recover and continue its frenzied growth. But this time there are projections that the price drop could be deep and sustained. That’s bad news for the oilsands, where the cost of production is higher than for conventional oil.

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This entry was posted on January 22, 2015 by .
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