Canadian business leaders say Teck’s Frontier decision sends ‘terrible message’ to investors

This translation has been automatically generated and has not been verified for accuracy.The cancellation of the massive Frontier oil sands mine prompted a swift and negative reaction from Canada’s business leaders, who warn it sends a “terrible message” and confirms the politicization of Canada’s regulatory process.

In recent months the $20.6-billion project, which was expected to emit 4.1 megatonnes annually while creating thousands of jobs and billions in revenues, found itself at the centre of a heated political debate on resource development and climate change. He suggested three key changes to fix mistakes made on both the economy and the environment. They include all sides accepting carbon pricing as the “best way of addressing climate change”; accepting that oil remains in high demand and oil produced in Canada is “world class,” and prioritizing reconciliation with Indigenous communities.

”This decision is damaging to the Alberta and Canadian economies, and to the economies of aboriginal peoples around the project area who would have seen enormous long-term, sustainable benefit,” Ron Quintal said.

jkenney globebusiness Saddened to hear that decision . . .

jkenney globebusiness This is Trudeau’s message to investors.

jkenney globebusiness Yeah thanks. The messags is loud and clear. The UCP are backwards science denying tyrants. Businesses will know to steer clear.

jkenney globebusiness It doesn’t make sense to pull out days before decision. It looks like Something else behind this.

jkenney globebusiness Has any leader reached out and talked to them .. tried negotiating on any level

jkenney globebusiness Yes it does. jkenney what are you going to do about the climate change policies in your province. How can you move towards what even an oil company like Teck wants you to do.

jkenney globebusiness Yes, don't do business with the UCP. ableg

jkenney globebusiness Yes, don't do business with the UCP.

jkenney globebusiness It's nothing they already didn't know the second Trudeau was elected.

jkenney globebusiness As long as we have a spineless liberal_party that panders to the vocal minority the social fabric of Canada will remain a tattered mess. Do we descend into anarchy or will the moderate majority find its voice? Reconciliation has been set back decades for shortsighted gains

globebusiness JustinTrudeau closing down Canada

jkenney globebusiness I think Tech has it right. Canada is not a place to do business. I do not believe in the leadership of Canada and personally will divest as much as possible.

jkenney globebusiness Now they publish this?

jkenney globebusiness killingcanada

jkenney globebusiness TrudeauIsNotFitForOffice

jkenney globebusiness Alberta Independence is the ONLY way forward. Can'tada is failed state.

jkenney globebusiness Many losers on this decision - biggest are the indigenous groups, who I believe would have been major equity partners in this project. A generation of highly skilled, paid jobs to lift people out of poverty has been taken away. Truly sad day.

globebusiness Trideau sends terrible message to investors 5 years running. Globe has helped whip up the environment cult crazies

globebusiness Leave carbon in the ground.

globebusiness sorry, but it’s actually investors that are sending the message. and increasingly they’re going to be saying, “no, we don’t want to buy into this stuff. it has no long-term future.”

globebusiness It’s time to transition to renewable sources of energy

globebusiness another FAILURE of trudeau the jacobin communist-RESIGN!

globebusiness Good. I am tored of the oil resource sector.

globebusiness A Sign of The Times !

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Teck Resources pulling application for Frontier oil sands mineThe Teck mine had already passed a lengthy regulatory review and Ottawa was expected to decide this week whether to approve the project The board made a decision citing public safety concerns? Trudeau's support for the illegal blockaders is why the Teck mine was cancelled. God is punishing Canada with a horrible leader like Justin Trudeau. Here we go. All the nut jobs are going to be redlining tonight. cdnpoli
Source: globeandmail - 🏆 5. / 92 Read more »

A timeline of the Frontier mine that Teck Resources shelved amid national anti-pipeline protestsThe project began more than a decade ago, in March 2008 and had just received clearance from two First Nations bands The First Nations are shooting themselves in the foot. Indigenous people could be thriving in Canada. And alllll cash transfers to FN... stop The withdrawal letter from Teck CEO Don Lindsay does not mention pipeline protests.
Source: nationalpost - 🏆 10. / 80 Read more »

The $20B Frontier mine shelved amid escalating rail blockades, CEO says Canada must reconcile climate and oilAlberta Premier Jason Kenney blamed the decision on ‘federal inaction’ under Trudeau, calling the protesters a ‘militant minority’ Another Canadian surrender to terrorism. That is too bad for Canada as well as the rest of the world which relies on cheap energy. , Exposes and explains the lies of the Idiotic PCC Between the financial situation and the fact Trudeau has shown a lack of courage and that he is incapable of leadership when faced with a crisis that puts not only projects but people in danger it's not really surprising
Source: nationalpost - 🏆 10. / 80 Read more »

Don Braid: Cancelled Teck Frontier means even First Nations’ support can’t get projects builtTeck Resources said Canada must balance its energy industry with climate goals lest future economic projects get trashed I wonder if Trudeau will buy the project off Teck? Seriously - what energy project of any material size can get built in Canada now...ie new ones starting from today. Absolutely nothing is the answer. Just wait for the long-term fall-out my fellow 🇨🇦 Teck pulling out was a fantastic decision! They could read the writing on the wall for the Tarsands. It was a bad project from day 1. 293 pristine sq. Km. saved! Kenney should resign for betting the province of Alberta on a dying industry. $4B taken from Alberduh for NOTHING!
Source: nationalpost - 🏆 10. / 80 Read more »

Coronavirus Help Doesn’t Mean Canada-China Relations Back To Normal: MinisterThe foreign affairs minister says he remains focused on securing releases of Michael Kovrig and Michael Spavor.
Source: HuffPostCanada - 🏆 61. / 53 Read more »