The big local news is the propane gas plant explosion at Keele and Wilson. Sunrise Propane, located just south of Downsview, sent massive fireballs into the sky just before dawn.
At least one firefighter was killed fighting the blaze and thousands have been evacuated from their homes. As Torontonians already know, a good chunk of the 401 has been shut down until things are brought under control.
Here's a great shot of the explosion by photojunkie who has more here.