Alberta estimates wildfire put $1B dent in 2016 oilsands spending plans
(Image courtesy of Robert Murray | Inspired Reporters).
Alberta wildfires that swept through Fort McMurray in May have resulted in the loss of $1 billion in planned capital spending in the oilsands for 2016, according to Alberta’s chief energy economist. Matt Foss said Wednesday that he believes those plans are deferred, not cancelled. But he doesn’t know when or if companies will resume their spending given benchmark oil prices that remain below break- even levels.
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