A Canadian municipality ravaged by wildfires last year that sidelined Canadian oil production is getting tax relief, the provincial government in Alberta said.

Blazes that devastated parts of Fort McMurray last May idled about 1 million barrels per day worth of regional oil production. About 4,000 small businesses were impacted by the wildfires in an area that contributes substantially to national gross domestic product.

Shaye Anderson, the provincial minister for municipal affairs, said the municipality of Wood Buffalo, the hardest hit by the fires, would get up to $1.5 million in tax relief for education properties on top of the $3.7 million already allocated earlier this year.

"We welcome this support for residents of Wood Buffalo as we approach the one-year anniversary of the wildfire," Wood Buffalo Mayor Melissa Blake said in a statement. "We will continue to work with the government of Alberta to ensure a successful recovery for the people of our community."

More than 1,370 square miles were impacted by the wildfires and evacuation orders were issued for at least 80,000 people in the area. A regional survey from last year found that of the estimated 20,000 structures assessed, about 1,900 were destroyed.

Alberta's economy is recovering from a downturn last year brought on by the strains of lower crude oil prices. The province last year was anticipating an $8 billion deficit.

Canada is the No. 1 oil exporter to the United States and remains relatively landlocked because of limited pipeline capacity extending outside the country. Options may evolve, however, with U.S. President Donald Trump embracing the Keystone XL oil pipeline that would reach from Alberta to the southern U.S. coast, though his trade policies may be a broader impediment.

Tweet

Iran's president leans on economic successes
Washington (UPI) May 1, 2017
Incumbent Iranian President Hassan Rouhani said easing international sections and addressing a high rate of inflation are priorities for the OPEC member state. "The first major issue needed to be addressed was the nuclear talks and bringing to an end international sanctions against the country," he said of his first term in office. "The second problem was the rampant inflation rate whil ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only