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Pall remains over Canadian oil sands after wildfires

Mon, May 01, 2017 - 5:50 AM

The 2016 wildfires stopped nearly all oil sands extraction and refining for an entire month, slashing production by more than a million barrels of oil a day, or 0.4 percentage point of Canada's gross domestic product, according to government statistics.

PHOTO: BLOOMBERG

Fort McMurray, Canada

ONE year after massive wildfires swept through Alberta province in Canada's worst natural disaster in history, the future of the oil sands - which contain a third of the world's oil reserves - remains bleak.

Persistently low oil prices have forced companies to...

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