OTTAWA - The effects of the enormous Alberta wildfire on the ever-crucial oil sector have prompted forecasters to trim their 2016 economic growth predictions for the entire country.Experts, including those from several big banks, have shaved their outlooks in recent days following the huge blaze that tore through Fort McMurray — the heart of oil country.The emergency forced nearby oilsands facilities to shut down last week, but some have begun to restart their operations. More are expected to [Read more]

OTTAWA - The federal Liberals are putting all hands on deck with a special cabinet committee to co-ordinate Fort McMurray aid and reconstruction efforts in advance of the prime minister's visit to the fire-ravaged region on Friday.Justin Trudeau has received an appeal from Alberta Premier Rachel Notley for enhanced employment insurance benefits for the Edmonton area as a consequence of last week's mass evacuation of more than 80,000 people.But that's just one thread of a multi-government effort [Read more]

CALGARY - A by-the-numbers look at the wildfire in Fort McMurray, Alta., and its impact on the oilsands industry:12: Number of surface oilsands mines and thermal or underground oilsands operations forced to close.1.1 million: Peak estimated number of barrels per day of oilsands output taken offline.C$65 million: Estimated reduction in daily revenue for energy companies from decline in production.700 million to 900 million cubic feet per day: The reduction in natural gas demand from shuttered [Read more]

TORONTO - Canada's economy has coped well with a shocking decline in oil prices but the country's central bank and federal government should remain prepared to do more if the need arises, an International Monetary Fund analysis released Monday has concluded.Cheng Hoon Lim, head of the IMF's annual review of Canada's economic performance, said it's too soon to calculate the impact of the Alberta wildfires that have devastated a huge area including parts of Fort McMurray."We need to see the extent [Read more]