If there's a bright spot for the province, however, it's that the ongoing disruption of Alberta
oil sands production — estimated by the Conference Board of Canada to be about 1.2 million barrels a day, comprising nearly $ 1 billion in economic activity — has contributed to a rally in global
oil prices that could give
producers, and therefore the Alberta economy, a badly -
needed lift once production is finally back on - line (assuming, of course, the fires are eventually extinguished and
oil sands operations escape serious damage).
In an interview with The Globe and Mail editorial board, David Collyer, president of the Canadian Association of Petroleum
Producers, said the Keystone XL line is
needed to connect the Alberta
oil sands with refiners who have invested billions of dollar to upgrade their plants so that they can process heavy grades of crude.