This post is just to point out all the Fort McMurray disasters that have occurred over the past decade since our bo-m days that have led to a steady decline in the property values, and drop of income in local businesses. Many businesses had to close and can’t survive up here it’s sad. Also to point out the most recent one disaster.
- 2013-2014 - The end of the majority of mega projects in the area. Basically 2012-2013 would be the peak of housing values, economic times in Fort McMurray, and peak of the bo-m days.
- 2015 - oil price crash related to increase in fracking technologies in the US, along with Saudi Arabia and OPEC trying to increase production to push out fracking producers, which didn’t work.
- 2016- Fort McMurray wild fire.
- 2018- a new normal period. Or so we had hoped.
- 2019- Suncor takes over operatorship of the joint venture operation Syncrude.
- 2020- COVID and it crashed the oil market as everyone tried to stay home. Also the Fort McMurray flood.
- 2023- Rich Kruger. Freddy takes over Suncor which now includes Syncrude which impacted and laid off 600-800 Fort McMurray residents. There were many many positions on site that were actually needed anyways, so lots of unnecessary pain.
Just to point it out for all my fellow Fort McMurray residents. I’ve lived up there for all these years too and experienced continuous decline in my property. I lived through all these events. I’d say each of these events dropped our properties another $25-$50k, but it has just been event after event of punishment up here over the years. And this has also significantly affected the entire community and all the businesses up here.
So if anyone wants to know it, the latest Fort McMurray disaster to deeply impact our community it is Rich Kruger (AKA Freddy) taking over Suncor as CEO. Let’s hope for sunnier days for our local economy but it’s just been a string of disasters and bad luck.