Teck Resources has officially withdrawn its application to build the $20-billion Frontier oilsands mine, just days before Prime Minister Justin Trudeau was expected to issue a ruling on the contentious project.
He said Canada lacks a “framework in place that reconciles resource development and climate change,” and warned that the absence of such an understanding could bar future projects from reaching completion. The project, which is entirely separate from the proposed Frontier oilsands mine, would transport natural gas from northern Alberta and B.C. to an export facility on the West Coast.“The timing of the decision is not a coincidence,” Kenney said in a statement. “This was an economically viable project, as the company confirmed this week, for which the company was advocating earlier this week, so something clearly changed very recently.
But pressure had been building on the Trudeau government to cancel the project, due to concerns that it would inhibit the federal government’s ability to meet its 2030 and 2050 climate targets. Frontier would have emitted roughly four million tonnes of greenhouse gas emissions per year, compared to the roughly 94 million tonnes currently emitted across the oilsands industry, including refineries.
“As Teck has rightly pointed out, and as many in the industry know, global investors and consumers are increasingly looking for the cleanest products available and sustainable resource development,” federal Environment Minster Jonathan Wilkinson and Natural Resources Minister Seamus O’Regan said in a joint statement.
Where did they say temporarily delay in their statement?
Canada's officially a trainwreck.
Seems permanent to me- can't add the 2nd half of the letter
They completely lost confidence in the government's ability to govern and enforce laws
Live coverage of Trudeau sitting in Ottawa. TrudeauMustGo TrudeauMustResign
HURRAY / Another step closer to accomplishing what daddy started Justin / The closing down of Alberta / You're off the hook bud on Teck
When there is no confidence in laws being upheld, when there is no federal leadership, when the climate for investment is destroyed, this will happen. Canada is broken!
laurby Where does it say 'Temporarily' PLEASE READ THE LETTER folks B4 the Clickbait. Market forces & Global shifts in demand will always guide investors. (paragraphs 4 & 5 are pretty clear)
Captain Obvious: Don’t hold your breath Canada
🇨🇦 is seriously broken and it won’t be fixed until Canadians experience some seriously hard times - which could be soon. We need some leadership and right now, we don’t have any, we have posers. cdnpoli
cselley Not delayed. Cancelled. And the Trudeau Government appears to be applauding the decision
Teck's decision points out our need for strong, unifying leadership right now. PM Trudeau is obviously not up to the task. He's been a catalyst for much of our division. Time for our political class to step up and do what's necessary. The PM must go so this country can survive.
Only viable in a market where WTI is consistently over $75/bbl. Which it hasn't been close to in the years since this was proposed, and isn't likely to be any time soon.
Why would they want to continue
According to other news articles, Teck has pulled their application, thus cancelling the project.
acoyne And the planet thanks them for it. Put the oil workers to work building solar panels, windmills and EVs.
Temporary delay... that's poorly worded.
A political disaster.
It’s awesome news. The fact it pisses off Klanbertans makes it even better. 😆
In 4 years time what does the Canadian economy look like with the Liberal NDP coalition MSM? Pray tell believers?
Look at what Trudeau has done since he has gotten re-elected. Lord help us if he doesn’t change his ways.
I’m pretty sure the last 2 weeks has scared of most foreign investment in Canada for the foreseeable future, I love this country, but since 2015 it has become a nightmare, the destruction is complete, I hope Liberal voters are patting themselves on the back
Our liberal government is useless and the economic uncertainty they’ve directly caused is palpable. However, Teck needs WTI at $90 per barrel on average to economically justify this project. It’s around $50 today with all predictions pointed lower.
It’s time to freaken do something with these snowflake bloody protesters. The Liberals made resource development political. It should not be this way. Canada is a really screwed up country. I am tired of working hard to pay high taxes to fund this ludicrous governments policies
The Liberals could still approve it. At least that will be one less BS thing to have to deal with if they decide to go ahead with the project later.
Canada has just surrendered to the FirstNations and Wetsuweten. What a sad day! Our ancestors must be rolling in their graves. cdnpoli
I don’t think it was due to political u rest. Kenney was just tweeting today Teck had finalized an agreement with Athabasca First Nations. Teck took a write down and can’t find investors. They pulled it to prevent further financial losses and stock holder anger
Congrats Liberals, you are resp for destroying Canada.
The curtain has now come down on resource investment opportunities in Canada. Dim the lights, cue the funeral dirge and bid farewell to prosperity.
This project will just add to the environmental disaster in the northern Alberta tar sands. They cannot even manage or afford to clean up the mess they have already made. Native people's health has suffered. Still the oil lobby wants to hurt them more to make more dirty money.
This is so sad we cant get anything built in this country
acoyne
That's it for Canada
acoyne You can’t get anything done here in Canada; that’s the message to investors. Under Trudeau, we have devolved into a state of economic paralysis, our free market in chains.
cselley Temporarily, until there's a CPC_HQ government they mean.
Other companies will pass over building in Canada, after this mess is over.
Why is Canada sounding more like Venezuela everyday?
good decision, we don’t need dirty oil and we need to fight climate change. Awesome decision.
Looks like Trudeau managed to win the Kobayashi Maru simulation.
I loathe my government.
Would expect no less from a company trying to do business in a banana republic
acoyne Our country and federal government are jokes
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
Another Canadian surrender to terrorism.
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