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Fort McMurray wildfire cost nearly $10 billion

Jan. 18, 2017 - In the aftermath of the Fort McMurray wildfire, the total financial impact is being estimated at nearly $10 billion. This, according to an analysis done by MacEwan University professor Rafat Alam.

Alam told the Canadian Press the estimate will rise as more costs like mental-health treatment are taken into consideration.

The Fort McMurray wildfire started in May 2016, devastating an entire community and burning approximately 5,900 square kilometres. It was announced to be under control on July 5, 2016.

It resulted in the largest wildfire evacuation to date in Alberta, with almost 90,000 forced to flee their homes.

Alam also said the likelihood of similar wildfires in the future is quite high due to climate change and lack of preparedness. 

Read more here.