A rejection of Teck Resources Ltd.’s enormous oilsands project would draw a very serious response from Alberta and send a “devastating” message to global investors, Premier Jason Kenney said Friday.
Teck has already spent $1 billion during the past decade to clear a series of regulatory hurdles, invest in technology designed to lighten the mine’s carbon footprint and forge agreements with First Nations groups, Kenney said. A rejection from Ottawa now would signal to investors that despite such efforts, projects can ultimately be scuttled by an “arbitrary political decision” made without any transparency, he said.
Teck chief executive Don Lindsay recently raised doubts about whether the Frontier project will ever be completed, saying it would depend on both pipeline access and world oil prices. Prime Minister Justin Trudeau has since appointed Deputy Prime Minister Chrystia Freeland to work directly with the provinces, with a particular focus on addressing differences with the West.
Do conservatives know there are 1000s of other ways to make money other than oil sands? Because it seems not.
Like the abandoned oil and gas well in Alberta and Saskatchewan who will be left with the mess when this project goes sideways? The taxpayer. Oil industries capitalize profits and socialize costs.
Who cares. Jason kenny came to ontario and got punked. He clearly is out of touch with the masses
cdnpoli jkenney cafreeland cathmckenna A question of competing interests. MomentOfTruth for Canada and Canadians: choice btw Environment and Investor interests; btw urgent need for ClimateAction on ClimateEmergency and economic interests of Albertans. Tough choices.
It’s designed to leave less of a footprint and First Nations is on-board, so what’s the issue? This will provide a nice revenue stream, the east can suck from 😑
It would! This Fed Govt would have to be so naive and dumb-ass to do that.... but that seems to be their modus operandi!
That statement is correct. But the implied meaning is an illusion. It is not true that Teck will clear our current problems, even to some noticeable extent. Which also means that the people will not be at a big loss, as implied. But then, what else can we Albertans do?
Approval or not, Teck is not anywhere near a final investment decision on the project - even with pipelines in place. The break even is going to be somewhere in the mid-50’s. Adding our crude to the US glut in the interim will only continue drive the differentials downward.
We need to cut a deal by approving TeckFrontier in exchange the mine shuts down by 2050. Ableg starts to diversify the economy to be carbon neutral by 2050 and opt in for national pharmacare cdnpoli abpoli
Devastating Message to Alberta
:v Kenney to Canadians: Alberta lives in the past and I for one want to keep it that way.
Resource sector development has been hit hard already by this government and it’s pandering to opponents to development. It can’t even build a dam anymore. The private sector is leaving resource rich, will-poor canada.
You represent the voters of Alberta, not your cronies. Do your job!