Canadian Oil Producers Spared a Hit From Wildfire

The video discusses a major fire near Fort McMurray affecting oil production, with 1 million barrels knocked out. The fire, initially feared to be larger, is now under control and moving towards the Saskatchewan border. The economic impact is significant, with estimates of damage ranging from $3 to $4 billion. Cooler temperatures and rain have helped control the fire, but the region's economy, already hit by low oil prices, faces further challenges. The national GDP may be affected, with some forecasts suggesting a zero growth rate for the second quarter.

What is the estimated reduction in oil output due to the wildfire near Fort McMurray?

• 500,000 barrels per day

• 1,000,000 barrels per day

• 2,000,000 barrels per day

• 1,500,000 barrels per day

Which direction is the wildfire moving after being controlled near Fort McMurray?

• Towards the Manitoba border

• Towards the Saskatchewan border

• Towards the British Columbia border

• Towards the Alberta border

What percentage of oil sands production is affected by the wildfire?

• 40-50%

• 30-40%

• 20-30%

• 10-20%

What weather conditions are expected to help control the wildfire?

• Strong winds and thunderstorms

• Cooler temperatures and light rain

• Hot and humid weather

• Warmer temperatures and dry conditions

What is the estimated economic damage to Fort McMurray due to the wildfire?

• $7-8 billion

• $5-6 billion

• $3-4 billion

• $1-2 billion