![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Washington DC (UPI) Oct 03, 2016
More than $75 million has been paid out to families coping with wildfires that crimped Canada's oil-focused economy, a provincial government said. The provincial government of Alberta said emergency funding to help those impacted by May wildfires in the Fort McMurray region expires Oct. 31. The government said more than $75 million went to help the tens of thousands of residents who sought support for short-term housing and other financial needs. "After helping 96,000 people, we must continue to come together and shift our focus from short to long-term support," provincial Minister of Municipal Affairs Danielle Larivee said. Outside of the oil sector, the government estimated about 4,000 small businesses were impacted by the wildfires in an area that contributes about $70 billion to national gross domestic product. Last week, the government offered tax credits for small business in an effort that could support up to 4,400 new jobs and add $380 million to provincial gross domestic product. The provincial government in August extended around $65 million to help the area recover. Through a multilateral effort that included support from the Canadian Red Cross, new funding covered up to $15,200 in costs for cleanup and new equipment. The regional administration said it was allocating additional funding at an undisclosed amount to help cover wages. The nation's economy is already under pressure from lower crude oil prices, which resulted in a 3.7 percent contraction for the oil-rich province of Alberta. The provincial government expected further economic woes because of the fires. Blazes that devastated parts of Fort McMurray idled about 1 million barrels per day worth of regional oil production. Alberta's government estimated a net fiscal impact of about $387 million from the wildfires. Considering this, Alberta's finance minister said the provincial economy is expected to run an $8.3 billion deficit, a figure that's about $400 million higher than previous estimates.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |