falling oil prices, Fort MacMurray

According to Fort MacMurray Mayor Melissa Blake nothing can be ruled out and all options are on the table as falling oil prices create the possibility of economic damage to Wood Buffalo. Blake spoke up and said that the local council will have to reexamine the current priorities if falling oil prices continue. According to Mayor Blake “Because of the current economic circumstances, we will have to take a harder look at our financial future,” she said. “I know we will have to make some very hard decisions if the economic downturn continues.” Any solution that has been examined already could have negative consequences for the Wood Buffalo area, and this is something that local government officials want to avoid if at all possible.

The falling oil prices mean that Fort MacMurray could see less income than expected in the coming year, but the infrastructure of the area needs work and capital projects planned are much needed. According to Councillor Phil Meagher “During the Klein government, nothing was done and we ended up extremely behind on things at the worst possible moment. As we are talking about this, Highway 63 is being twinned. That highway shouldn’t have been twinned 10 years ago, it should have been twinned in the 1990s after careful planning.” On the other hand if projects are scaled back or put on hold and falling oil prices reverse quickly the results could be disastrous. Fort MacMurray Mayor Melissa Blake explained “At this point, all options are on the table if things continue to get worse. It’s unfortunate we are facing these economic circumstances and we have to do what is necessary to get by. At the same time, we cannot be caught by surprise again and be unprepared for a rebound.”