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In 2003, Imperial Oil Ltd. announced plans for a proposed new megaproject at Kearl Lake 60 kilometres (37 mi) north of Fort McMurray, in partnership with its parent company, Exxon. [7] Ralph Klein was then premier of Alberta, and against the backdrop of the invasion of Iraq in March, 2003, there was a boom in megaproject construction. [7]
Fort McMurray's growth is characteristic of a boomtown. Housing prices and rents are far higher in Fort McMurray than most such remote areas, and in 2006, Fort McMurray had the highest prices in Alberta. [1] The Alberta government has promised to release more Crown land for residential construction, particularly in Timberlea on the north side.
Enbridge Pipelines (Athabasca) Inc., a subsidiary of Enbridge Inc., (TSX:ENB) (NYSE:ENB) reported a pipeline leak site, about 70 kilometres southeast of Fort McMurray, near its Cheetham terminal on June 22, 2013, of approximately 750 barrels of Light Synthetic Crude oil from CNOOC's Long Lake upgrader SAGD project that spilled into a wetland area near Anzac. [7]
In response to Alberta's financial support, in March, TC Energy "approved construction of the US$8-billion project to transport up to 830,000 barrels per day of oil." [51] According to a Canadian Press March 31, 2020 article Premier Kenney estimated that "1,400 direct and 5,400 indirect jobs" would be created in Alberta during construction. [50]
Syncrude Canada Ltd. is one of the world's largest producers of synthetic crude oil from oil sands and the largest single source producer in Canada.It is located just outside Fort McMurray in the Athabasca Oil Sands, and has a nameplate capacity of 350,000 barrels per day (56,000 m 3 /d) of oil, equivalent to about 13% of Canada's consumption. [1]
The Syncrude Tailings Dam, impounding the Mildred Lake Settling Basin (MLSB), is an embankment dam that is, by volume of construction material, the largest earth structure in the world in 2001. [1] It is located 40 km (25 mi) north of Fort McMurray, Alberta, Canada, at the northern end of the Mildred Lake lease area owned by Syncrude Canada Ltd.
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