Article Image

IPFS News Link • Canada

This Canadian Oil 'Ghost Town' Is For Sale

• Zero Hedge

In a shocking example of the fallout from low oil prices coupled with years of easy-money-enabled malinvestment, the collapse of Canada's non-conventional oil production has forced a northern Alberta oil-boom-town to be put up for auction including 1200 person accomodation work-camp, hospital, gym, running track, and waste-water treatment plant.

After years of invincibility, the inevitable happened:

And that has simply imploded the once 'boom' oil towns of Alberta.

After 55 years in business, Ritchie Brothers says "nothing really comes close in sheer physical size to this unique asset we're selling by private treaty: a 1,200-person workforce accommodation camp located approximately 50km north east of Peace River, AB, Canada."