Monday, January 25, 2016

BOOM & BUST IN FORT MCMURRAY

Canada's northern oil hub Fort McMurray is learning the hard way that there is no such thing as simply going back to normal after a long boom that got cut short by the collapse in crude prices.
With prices down 70 percent over 18 months, producers have deferred costly new oil sands projects and laid off tens of thousands of mainly fly-in fly-out workers, who overwhelmed the city during the 15-year oil boom, but also bankrolled much of its prosperity.
 

No comments:

Post a Comment