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Tales From an Oil-Sands Slide: Angst Amid Bravado in Alberta

Oil is mined near Fort McMurray, Alberta, Canada.
Photographer: Brent Lewin/Bloomberg
Updated on

The pain of crude’s collapse is beginning to bite in Alberta, from the oil-sands boomtown of Fort McMurray to the corporate boardrooms of Calgary.

As the C$340-billion ($270 billion) petro-economy confronts an oil market meltdown, a decade-long investment spree is being reversed, layoffs and spending cuts are in full swing at companies such as Suncor Energy Inc., and everyone from oil drillers to real estate agents is feeling the pinch.