Teck oilsands mine.

[captain morgan]

Teck Resources pulls application from Frontier oil sands mine


https://tnc.news/2020/02/23/breaking-teck-resources-pulls-application-from-frontier-oil-sands-mine/

No one can blame them.... What with a flaky regulatory environment that tater tot has politicized in addition to the Libs being wimpy enough to let a handful of eco-yokels control the country, who in their right mind would part with a single nickle on a resource play in Canukistan

 

[petros]

They flat out said "wonky Climate Change®" policies.

 

[Hoid]

https://oilprice.com/Latest-Energy-...Not-Go-Ahead-Even-If-Trudeau-Approves-It.html
$15 Billion Oil Sands Project Might Not Go Ahead Even If Trudeau Approves It
By Irina Slav - Jan 30, 2020, 10:30 AM CST
Oil sands
Teck Resources is uncertain it will go ahead with a planned oil sands project that is awaiting the approval of the federal Canadian government, the Canadian Press reports, citing Teck’s chief executive.
The Frontier project, estimated to be worth $15.6 billion (C$20.6 billion), is an open oil sands mine that would yield 260,000 bpd at peak production, with its life estimated at 40 years. Yet it must first be approved by the Liberal government that has strict climate change fighting goals.
According to Teck Resources’ CEO Don Lindsay, however, the project may not go through even if the government grants it approval. The problem, he said during an investor conference in Alberta, was oil prices, among other things. Frontier’s profitability was based on higher oil prices, much higher than they are now. When it was first floated, the plan saw profitability at a West Texas Intermediate price of $75 per barrel. WTI is currently trading at a little over $50 a barrel and hasn’t touched $70 for years.
At the moment, the federal government’s decision on the Frontier project is closely watched by all stakeholders. According to some, this decision could seal the fate of the Canadian oil sands industry, which is why it is very likely that the government will delay it as it seeks to find a way to please two opposing camps that have no meeting point. The pro-oil camp wants the industry to grow. The pro-climate camp is fixated on emission reduction.
Whatever Prime Minister Trudeau decides, one of these groups will be unhappy.
Yet if the government does approve the project and Teck Resources decides not to go ahead with it, this could be an even harder blow to the industry, a sign that the investment climate and the oil price environment has worsened so much that it is making projects that were deemed profitable just three years ago, unprofitable.
By Irina Slav for Oilprice.com

Even at $75 a bbl there was little likelihood this project would be completed.

It was never a serious proposition.

 

[Twin_Moose]

Even at $75 a bbl there was little likelihood this project would be completed.
It was never a serious proposition.

Do you actually think Oil prices at today's rates has any bearing on a project of this magnitude? They are looking at a 40 year projection not Feb. 24 2020 price index

Your so funny with your Trolling prowess

 

[Cliffy]

Teck withdraws application for $20B Frontier oilsands mine

Vancouver-based Teck Resources Ltd., has withdrawn its application to build a massive oilsands project in northern Alberta, citing the ongoing debate over climate policy in Canada.
The federal government was slated to make a decision this week on whether to approve the $20.6-billion, 260,000-barrel-per-day Frontier.
Sources close to the project confirmed to CBC News the application was withdrawn.



More: https://www.msn.com/en-ca/news/cana...-dollar20b-frontier-oilsands-mine/ar-BB10j84t

 

[Decapoda]

Teck withdraws application for $20B Frontier oilsands mine

Vancouver-based Teck Resources Ltd., has withdrawn its application to build a massive oilsands project in northern Alberta, citing the ongoing debate over climate policy in Canada.
The federal government was slated to make a decision this week on whether to approve the $20.6-billion, 260,000-barrel-per-day Frontier.
Sources close to the project confirmed to CBC News the application was withdrawn.



More: https://www.msn.com/en-ca/news/cana...-dollar20b-frontier-oilsands-mine/ar-BB10j84t

Thanks for the third link in the last 7 posts to the Teck news. Can you read?

 

[captain morgan]

Even at $75 a bbl there was little likelihood this project would be completed.

It was never a serious proposition.

Existing oilsands mines are profitable at $40

 

[taxme]

Another strange chapter opening in Alberta where they are awaiting federal approval for a new $20 billion oilsands mine.
In a province which lacks the infrastructure to move the oil they already have.
In a province that already has production cuts to help inflate the price of their oil
WTF are they doing creating another 260K bbls a day of oil? On a project that is supposed to stretch out over 40 years?
It really makes little sense.

Which is really sad because they could be selling the oil at a reduced price too Canadians and help bring down the price at the gas pump. Its always about the bloody money. Of course if the gas price dropped all the levels of government would probably add more taxes to a liter of gas. Politicians rare not called a bunch of pri-ks for nothing. Our politicians are no better than those oil companies who many say is the reason why the price of a liter of gas is so high. There is close to 40% in taxes on a liter of gas. Almost half of the price for a liter of gas goes to the government, while the rest goes to the oil company. It would appear as though it is the government and not the oil companies that is the problem for high fuel prices.

The government is the problem, and is never the solution. When the government gets to put their greedy and grubby hands on anything, it never works out well for the consumer. Governments are only great experts at making life more difficult for we the people to try and get by and try to enjoy life. More government and more taxes are good for we the people, so says our dear leader politicians. We know as to what is best and good for you. I guess that is the main reason as to why my Canadian dollar(peso)is not worth a pot to piss in anymore. Our politicians have pretty much destroyed our Canadian dollar and have pretty much made it worthless. Politicians? What the hell are they good for besides nothing.

 

[Ron in Regina]

Does anyone honestly believe this project is going to be approved? The Liberals have been clearly and concisely telegraphing their intent for the last two weeks with talks of aid packages for AB, headlines of Liberal MP's urging Trudeau to reject the mine....and now Liberal "special prairie representative" Jim Carr moving the goalposts by now declaring that the project must achieve zero emissions in order to be approved....a ridiculous and impossible requirement. Canadians are being played for fools by a circus clown who's currently on a world tour racking up the Canadian credit card, giving away millions of dollars we don't have to third world countries to promote gender equality.

My prediction...Trudeau and the Liberals will defer a decision and drag this out another couple of months, then they will kill it outright. Is there anyone out there who honestly believes this is going to go any other way? This country is being torn to shreds by Trudeau and his destructive foolishness.

From what I understand, the approval has been sitting on Justin Trudeau's desk.....since July....after NINE YEARS of consultations and Environmental Hoops with some of the toughest regulations on the planet....stalling....and here we are. This is what I heard from Tech once the legalese is translated into plain and straight forward English:

"Sorry folks, but after the constantly moving goal posts, and the bureaucratic regulatory shell game of the Liberal Gov't, and the stalling....and then seeing the Done Deal that was the propane pipeline that just got opened up again for another 30 days of uncertainty....We'll eat our over a BILLION Dollars spent to date before we end up further tied to your Northern Banana Republic of Lawlessness and Ridiculousness. We'll take our TWENTY BILLION Dollars elsewhere like the other ONE HUNDRED & THIRTY BILLION Dollars that's already fled the Energy Sector in Canada in the last couple years and plant it somewhere saner like just over the border into the only country physically connected to your future third world joke of a country. Enjoy!!"

 

[Ron in Regina]

Even at $75 a bbl there was little likelihood this project would be completed.

It was never a serious proposition.

I hear you. That would be why they spent over a BILLION Dollars and spent NINE YEARS to date on this project with a lifespan of 40 years minimum. What did a pack smokes or a jug of milk or a gallon of gas or a can of soup cost 40 years ago (?), or 30 years ago (?), or 10 years ago???

 

[captain morgan]

Another stick of wood to stoke the fires of separation

 

[Hoid]

Oil Falls To $50 As Sentiment Sours
Oil prices erased early gains on Tuesday morning as fears of demand destruction continue to weigh on an already oversupplied market

https://oilprice.com/oil-price-charts#prices

Canadian Western Select is $28

 

[Twin_Moose]

From what I understand, the approval has been sitting on Justin Trudeau's desk.....since July....after NINE YEARS of consultations and Environmental Hoops with some of the toughest regulations on the planet....stalling....and here we are. This is what I heard from Tech once the legalese is translated into plain and straight forward English:
"Sorry folks, but after the constantly moving goal posts, and the bureaucratic regulatory shell game of the Liberal Gov't, and the stalling....and then seeing the Done Deal that was the propane pipeline that just got opened up again for another 30 days of uncertainty....We'll eat our over a BILLION Dollars spent to date before we end up further tied to your Northern Banana Republic of Lawlessness and Ridiculousness. We'll take our TWENTY BILLION Dollars elsewhere like the other ONE HUNDRED & THIRTY BILLION Dollars that's already fled the Energy Sector in Canada in the last couple years and plant it somewhere saner like just over the border into the only country physically connected to your future third world joke of a country. Enjoy!!"

Tech should demand their money back that they had to layout for studies, assessments, consultation, permitting, and wasted time.

 

[Twin_Moose]

Oil Falls To $50 As Sentiment Sours
Oil prices erased early gains on Tuesday morning as fears of demand destruction continue to weigh on an already oversupplied market
https://oilprice.com/oil-price-charts#prices


Canadian Western Select is $28

Pretty good deal compared to what your province paid for to get Saudi oil.

 

[Twin_Moose]

'Do what is necessary': Kenney hints at investment in major oil and gas project

Premier Jason Kenney is suggesting the provincial government may financially back an oil and gas project.
In a Tuesday speech to the Edmonton Business Association luncheon — days after Teck Resources withdrew its application to build the $20-billion Frontier oilsands mine — Kenney said “uncertainty” on federal regulations is to blame for some energy projects pulling out of Alberta.
“I’m here to tell you today, as the premier of this province, that we are prepared to do what is necessary to ensure a future for this province’s economy, including for women and men, Indigenous people and new Canadians, and everyone who depends upon, either directly or indirectly, our energy industry,” said the premier. “I just say, stay tuned on that. I’ll give you a hint.”
Kenney then spoke about how former premier Peter Lougheed created the Alberta Energy Corporation (AEC) in the 1970s. That entity financed Syncrude Canada Ltd.

 

[Hoid]

U.S. West Texas Intermediate fell 4% to trade at $46.91 per barrel, bringing the week’s decline to more than 12%, and the year-to-date loss to more than 23%. WTI is pacing for its fifth straight session of losses, and has tumbled even deeper into bear market territory, sitting 29% below its 52-week intraday high level of $66.60, reached last April.https://www.cnbc.com/2020/02/27/oil...-breaking-below-47-as-collapse-continues.html

 

[Twin_Moose]

U.S. West Texas Intermediate fell 4% to trade at $46.91 per barrel, bringing the week’s decline to more than 12%, and the year-to-date loss to more than 23%. WTI is pacing for its fifth straight session of losses, and has tumbled even deeper into bear market territory, sitting 29% below its 52-week intraday high level of $66.60, reached last April.https://www.cnbc.com/2020/02/27/oil...-breaking-below-47-as-collapse-continues.html

And this means what to you? And it has what to do with anything?

 

[pgs]

And this means what to you? And it has what to do with anything?

Oil is dead .

 

[captain morgan]

Oil is dead .

Dead, other than the fact that we would all be dead without it.


That's what you mean, right?

 

[pgs]

Dead, other than the fact that we would all be dead without it.


That's what you mean, right?

That is true . Without oil how could I go to the Kootenaeys and home in one day ? A hundred years ago it took a week , one way .