You can use your smart phone to browse stories in the comfort of your hand. Simply browse this site on your smart phone.

    Using an RSS Reader you can access most recent stories and other feeds posted on this network.

    SNetwork Recent Stories

Oil revenues plunge for many Indigenous communities in Western Canada – CBC

by ahnationtalk on May 18, 202028 Views

‘We’re trying our best to adjust and keep our head above water,’ says Alberta chief as oil production halts

May 17, 2020

Considering how much effort the Frog Lake First Nation has spent developing its oil business over the decades, the decision to turn off the taps was especially difficult for the community to make. Still, based on dollars and cents, it was a no-brainer.

Since drilling for oil and natural gas began in the 1970s, the community has been able to use resource revenues to build more than 200 homes on the reserve and offset tuition for hundreds of students who attend college and university.

During good times, the money has also helped build facilities like an arena, fieldhouse and chuckwagon race track, while also offsetting the cost of several community programs.

For the last 15 years, the First Nation, located near Lloydminster in northeast Alberta, was one of the largest oil-producing reserves in the country. But the business took a severe financial hit after the oil price crash in 2014 and now production is shutdown amid painfully low prices over the last two months.

Read More: https://www.cbc.ca/news/business/oil-revenues-plunge-for-many-indigenous-communities-in-western-canada-1.5571477

Send To Friend Email Print Story

Comments are closed.

NationTalk Partners & Sponsors Learn More