Skip to comments.500,000 Barrels And $1 Billion In Losses: The True Cost Of Canada’s Wildfire
Posted on 05/05/2016 12:58:18 PM PDT by bananaman22
It took the market over a day to appreciate the fallout from the devastating Canadian wildfire which has led to a state of emergency in Alberta, the evacuation of over 80,000 people in the oil sands gateway city of Fort McMurray, and the destruction of over 1,600 structures. According to insurance industry reports, losses from the fire are approaching $1 billion, and will likely set records for the country.
The average cost of a single-family home in the community was recently around CAD$627,000 ($487,000), Aon said, citing data from the local real estate industry, and cited by CNBC. That would suggest losses of CAD$1 billion ($779 million), with more to come as the fire continues to blaze out of control. Such damages would already make the fire the third-costliest insured loss event in Canadian history, the firm said.
(Excerpt) Read more at oilprice.com ...
Back in 2004-2005 this would have been good for a $5-10 ramp job in oil. Any Gulf Storm, or attack in Nigeria was sufficient.
I wonder if environmental whackos are behind this.
I’ve seen muslims blamed on here also, but sometimes it’s just a random lightning strike from Mother Gaia...
did they catch the mooslims that did it.
mooslim terrorists in Alberta...thanks trudoughbag
Story I read was there was no lightening in the area, so its likely caused by man...the question is accident or arson.
The usual suspects in the green-is-the-new-red brigade are currently brewing a fondue in their collective panties over this, saying that it’s a ‘cosmic, karmic bitch-slap’ to Canadians for ‘raping the planet with their dirty oil’, and that we Canadians should take the hint, and “LEAVE THAT DIRTY OIL IN THE GROUND!!!”
Improper forest management, not clearing out old growth and the like. PM Trudeau Jr. will probably shut down Canadian oil production to “save the environment.”
They outta buy more water dropping aircraft.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.