Canadian Natural defers oilsands mine expansion;
Canadian Natural Resources Ltd. is deferring an oilsands mine expansion as it waits for Ottawa to finalize environmental policies.
The Calgary-based oil and gas giant had been planning to spend about $150 million this year on early engineering and design work for its $8.25-billion Jackpine mine expansion north of Fort McMurray, Alta., president Scott Stauth said Thursday.
But it’s putting that spending on hold until it gets more clarity around carbon pricing and methane emissions rules, which the company says have created an “economic burden for long-term growth investments.”
In related energy news – Families of three former Liberal MPs behind Queens County wind farm that’s getting $231 million in federal support
But, but … but there’s an MOU
Yeah, MOU, now all they need is a business case.
I wouldn’t trust CNRL any further than I could throw them.
I wouldn’t trust the Liberals any further than I could throw them.
I wouldn’t trust anyone named Mark who spells his name with a C !!
What is ur problem with CNQ?
They’re corporate bullies and have been as long as I’ve been here. No one likes them. You can’t swing a cat without hitting someone who’s worked for them or is one step removed from one. They have a toxic culture and don’t care about employee retention. The list goes on.
Having worked at CNRL for 10 years, until I retired, I can say from experience they don’t have a “toxic culture”. CNRL was a great place to work if you were a smart, hard working person and by far the best managed company I worked at in Calgary … it was a joy to finally work under a management team that was good at making money in the oil & gas industry.
To say they don’t care about employee retention is nonsense IMO. CNRL doesn’t care about retaining the under performers or those with issues but I watched one of my engineering techs get help with his alcohol problem for years … two company paid for programs and multiple chances … all the help and support you could wish for.
I don’t understand the concept of “corporate bullies” … what do you mean by that? In my experience & my areas we always went out of our way to be good partners and good corporate citizens.
I worked at a company trying to set up a JV with them on adjoining land, and they wouldn’t return our calls. Others have said that contract negotiations with them are contract dictation, and take it or leave it. I’ve heard from multiple people who’ve worked there who said it was the worst experience of their careers. A new co-worker I’ve known for more than a decade recently joined my current company from CNRL after their company was acquired. CNRL tried to push them out almost from the start, and they couldn’t stand the environment. You are literally the first person I’ve heard say anything good about them in my two decades here, so you could say I have a strongly-negative view of them that would be hard to defeat.
231 million for more useless wind. Faster please, every one of these moves hastens the end of this shithole.
Venezuela has lots of oil without carbon taxes
It’s crazy that the federal gov’t owned Infrastructure Bank can give favorable terms and cut rate interest charges to federally connected individuals, and then not be forced to disclose this deal, something we used to call back in the day, “a back room deal” as for terms.
So when they say at below market rates, do they mean less than the 2.852% nominal yield of a CanGov 5 year bond that is being used to finance this loan, or the 5.6% or higher than a wind farm project might have to pay out for their bonds?
Perhaps the certainty for investing in Alberta will return after the autumn 2026 referendum?
Alberta needs the equivalent of a Javier Milei:
“There are moments in history when a Nation must choose its future. We have been told that the state is our protector, the bureaucrat is our savior, and the politician knows more than the free man, that we must obey, that we must depend. But the truth is another: the world has only two types of people: those who live off what others produce—i.e., the parasites, that is, you—and those who produce everything that makes modern life possible.
“While you draft regulations, we create wealth.
“While you promise equality, we generate prosperity.
“While you distribute poverty, we multiply abundance.”
“The true battle of our time is cultural, philosophical, and moral. It is to choose the system that lifted millions out of poverty. It is to stop being an immature nation that squanders the future to hand out benefits in the present and to become a mature nation.”
aaaaaaaaand guess whut: the Canaduhians in Nova Scotia put 11 LIEberals out of 11 seats into HoC.
https://www.ourcommons.ca/members/en/search?province=NS
congrats NS voters, YOU are doing everything necessary, which is basically ONE thing and marking the X next to the LIEberal candidate.
as such YOU voters are the ones *primarily* responsible for the graft and corruption.
gawdalmighty it saddens me what this ‘post nation state’ now is. a collection of grifters
what say ye AB? still anxious to empty your wallet for the sake of NS ???? hmmm?
$8.25 billion well not spent. The Chinese will eventually nationalize all those assets.
This is a problem in North America and hits both oil & gas and mining. We allow our government to make rules that are so stringent we can’t develop our own resources, making us dependent on China which has a rule of “develop resources at any cost”. This results in a service economy where you cut my hair and I serve you coffee but we can’t heat our homes.
Interesting how financial details are not released for a government project. Wonder if Brookfield got a cut?