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Teck Resources Cancels $20B Mega Oil Sands Project In Northern Alberta

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Global Oil Giant Teck Resources Limited notified the Trudeau government they have officially withdrawn its regulatory application for the proposed Frontier oil sands project in northern Alberta.

The promise of Canada’s potential will not be realized until governments can reach agreement around how climate policy considerations will be addressed in the context of future responsible energy sector development. Without clarity on this critical question, the situation that has faced Frontier will be faced by future projects and it will be very difficult to attract future investment, either domestic or foreign.

Questions about the societal implications of energy development, climate change and Indigenous rights are critically important ones for Canada, its provinces and Indigenous governments to work through. 

Don Lindsay C.E.O Teck Resources Limited

As a result of the cancellation, The Trudeau Cabinet will no longer be making a decision on this project.

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. If constructed, the Frontier Oil sands would have emitted close to four million tonnes of greenhouse gas emissions per year, while the industry standard hovers around 94 million tonnes.

Canada will need to stay competitive in the global economy and continue innovating with the best technologies in the world and will need the government to provide a serious plan to protect the environment.

Teck Resources worked hard to include and engage with local Indigenous communities throughout the project development and review process which lead to all 14 surrounding first nations signing off on the project. Teck’s consultation model is a positive example for future proponents.

There’s no doubt that fighting climate change is a global challenge. To meet this challenge here in Canada and internationally, more work is required across jurisdictions and key stakeholders within the industry. Canada has an innovative spirit, talent, and know-how to lead the world with the most environmentally and socially responsible resources.

The Trudeau government will face harsh criticism from the Conservative regime and Albertans for the cancellation of this mega project. This will be seen as a huge blow to the Albertan economy in need of good jobs and will further up the rhetoric of Western Alienation.

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TDS News
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