Forest Fires: Rage In Alberta, Hit Energy Industry
Alberta is declaring a state of emergency as 109 Forest Fires – 33 classified as out of control at last check – rage in the province’s northwest, forcing 30,000 residents from their homes and threatening some energy production. While the human impact is first and foremost, it’s worth noting this isn’t the same game as 2016, when Forest Fires ravaged the northwest, where heavy oil extraction is concentrated – this time around, it’s more the Duvernay and Montney players who are in focus, so more natural gas than oil. Paramount’s shut in about 50,000 barrels of oil equivalent per day (boe/d) worth of production, while Vermilion announced this morning that it’s shutting down 30,000 boe/d. We’ll keep you apprised of further developments for the energy industry, and of course, our CTV News colleagues will be on the ground for the latest in terms of evacuations and further Forest Fires developments.
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