Teck, one of Canada’s largest mining companies, has been around for over 100 years. But even with all that experience, they couldn’t handle the federal government’s Impact Assessment. They were going to spend $20 billion on their Frontier Oil Sands Project. The initial application was in 2012, but eight years later, they didn’t have an answer, so they pulled it. On Thursday, they sold off their last oil sands interests and are out of the oil sands entirely. Wonder why?
Well of course the Government agencies have to prevent oil and gas development as best they can. If they didn’t, that oil would be refined into diesel and gasoline. Then people would put it in their vehicles and deliver food to stores, plow roads, heat their homes, drive about willy-nilly just for the heck of it, maybe visit gramma and grampa, or who knows what crazy uses people might find for the stuff.
Can’t have that now, can we?
–
–
Alright. Show’s over. Everyone back in your pod. It’s almost dinner time and tonight it’s everyone’s favorite, fricasseed cricket with a side of boiled ragweed.
Oh! Oh! A booster shot is on the schedule for after dinner entertainment. YAY!! Can’t wait.
Mmmm, boiled ragweed. My favourite. Served up w/ a splash of vinegar, just like spinach & Swiss chard.
I hope I don’t have to travel more than 15 minutes to get my booster!
In theory, provinces have 100% control of resource development.
In practice, the federal government has all sorts of indirect ways of controlling it, such as environmental legislation.
Exactly, Marmot. That’s most of it. They also control the export and import of all goods.
Long term, many companies have dropped out of the oil sands. Many investment funds will no longer fund oil companies. Many oil companies have refused to increase production. This is how you kill Canada’s oil industry. Slowly at first…
“Blame the feds”?
Credit the Feds.
Mission Accomplished.
Writing letters is pointless.
You’ll only get their attention with pointy things.
I suspect shithead Turdeau has killed hundreds of billions in investments in the resource and mining sector. That’s likely a million high paying jobs.
People who make actual money want to make their own choices. The Canadian ruling class want to rule, and to steal from Milton; “Tis better to rule in hell, than serve in Heaven.”
The great turtle breathes a sigh of relief … no more white men will carve away at the her beautiful shell. Let the drum circles commence. One more step back to the good old days of the 1500’s before the white man, and his evil white ways killed the beautiful, noble, eco-simpatico, happy ways of the native peoples.
Now we can spend more time in our wigwams since the unnatural ways of commuting to work (an evil white concept) will be too expensive.
The provinces also have things at their disposal to use as leverage against the federal government. They just need some gonads to get it done. The most promising candidate wasn’t born with a set and she’s making the rest look like they’ve never had any!
We’ll see….
Yep. Cautious optimism.
The Spawn-Fuhrer, acting for the betterment of the planet as defined and measured by the sociopath and zealot class, has driven at least 200 billion away from being invested in the deranged dominion. The “workers party” (NDP) and LPC brain-trust, have supported this economic vandalism as they have effectively replaced economic knowledge with envy, resentment, green theocracy, nihilism, and hatred. Besides, their leader likes the smell of being close to political power. Power that he could never achieve on his own.
CNOOC aka China National Offshore Oil Corporation is trying sell off their oil sands properties. A classic case of buy high, sell low….
We produce oil but cannot drill, nor can we pay for it in cents.
A normal country would have rioted by now.
As a Teck shareholder I am as disappointed in the climate drivel within the letter as the stifling of a good project.
Hardly.. The Feds have a different business plan with their political capital riding on it.. Their investments, their friends.. Why would they want to ALLOW a industry that’s not in their back pocket when they could just simply kill it and create a monopoly for themselves..
Reality has a way of leveling the playing field.. The sands are not going anywhere.. Demand is only going to go up..
Let them enjoy their monopoly until it runs out of gas and we can get back to a responsible energy portfolio..
When one does everything in their power to destroy a business, indeed an industry, and a province along with it, then a region, it should come as no surprise that creates the illusion of “no business case” for badly needed output, as the failed drama teacher once remarked.
Precisely wrong while not attempting to be approximately right. Planned poverty for progressive power, with NDP hypocrites in tow.
Tell us dear NDP leader – how is less and less Canadians having a family doctor, rationed by ever increasing wait list, except for the anointed apparatchiks, that puts us at the bottom of OECD nations for care delivery with our per capita spending near the top, an “improvement?”
Combatting climate change a millionth of a degree at a time as China and India grow their annual pollution more than a decade of Canada’s entire output. This is their idea of leadership, low hanging fruit of watermelons, to cowardly to expose or challenge the true polluters.
Now you have that Singh fool screaming from the rooftops a private system threatens health care, when its ban is the actual threat.
Like “white supremacy” aka anything not conforming to collectivists chants. Yet another faked/canted issue to deak accountability.
As usual, the collectivists who lecture us about saving healthcare and the planet never suffer the consequences of their incompetence.