Economic BaseMany residents of the Wallace area earn their living from farming and related agricultural services. Grains and oilseeds thrive in the rich soils of the surrounding rolling plains. The area also sits above a large underground pool of crude oil. The area's landscape is dotted with hundreds of pump-heads, derricks, and wells. Local residents and businesses cater to the oil extraction industry, and earn their living from sending the crude to markets. The area is one of the prairies largest producers of oil, second only to the vast productions of Central Alberta to the West.
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