BREAKING : Teck pulls Mine application
 

Reports coming in from Globe and Mail that Teck has pulled their application for the Frontier Mine project.

You need a subscription to read the Globe and Mail so no point posting a link. It's also on Twitter.

Devastating news.

Yes, sad news indeed !
Basically Teck cites 2 reasons for this: 1) political uncertainty, and 2) unfavorable market conditions to make it profitable ( price of oil/bbl).

Saw that. Not surprised at all. This country is swirling down the toilet bowl faster than I ever imagined possible. It needs a cleansing..

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Reuters News link 👉 https://www.reuters.com/article/teck...-idUSL2N2AO01D

We'll probably get a lot more details tomorrow.

Selkirk

Justin's so happy, doesn't have to make a decision.

Sigh......

Not surprising, the way things are now even if it received approval from everyone involved, they could spend years and hundreds of millions of dollars only to be stopped dead by a couple protestors in the future

sad news for this country
and down we go

It boggles my mind that there are actually people who are happy about this.

Kenney had best be changing his tune now.

We are seriously going to hell in a hand-basket :scared:

Sad for Alberta. They announced a 400 million$ write down on it last week. Not surprised with the way things are going.

Volstok Oil in Russia announced a 130 billion Euo Oil project wheee they are building towns, hospitals and an airport for the workers.


What a huge difference it makes when people who roll around in the dirt and pee on their legs aren’t considered when making economic policy decisions.

All transfer payments will now be in the form of oil.

Who do you think is funding all the ******* protestors! Putin needs oil money to keep his regime afloat. Hes been pulling divisive **** like this for a long time in western society. Hell he has half of America in his pocket...including everyone's hero around this board.

Maybe it’s fine Kenny took a page from the protesters hand book and turned off the taps. We’d be in tough for a bit, but it’s seems this is the only way to get the attention in this country.

Trudeau doesn’t have the balls to get things done and neither does Kenny.

BW

I'm afraid you are right

Just sent a message ALBERTA IS CLOSED FOR BUSINESS
Scewdeau is dancing with his cronies now

I agree. Kenny has done absolutely nothing for Alberta. All those speeches where he tries to make it look like he’s intelligent. Not foolin anyone.
As for Sparkle socks. Lol. Embarrassment to our Country

Teck will likely wait until we have a new government, and then apply again.

From the investor
 

Teck has a lot of debt around 6 billion ( learning from the pass about bad timing they brought the fording coal mine just before the financial crisis , they almost went belly up) , can’t risk going ahead with this mine unless the have 100% support, any delays and hiccups can put the company finance in jeopardy., just look at the cost of tmx.

Better yet NO transfer payment .

Kenny definitely has not done anything impressive but I don’t think any pro energy sector politician would make much of a difference.

When you have politicians from out east fighting against projects out west, protesters allowed hold rail hostage without consequences, and to top it of a PM who can not manage a lemonade stand why would anyone risk billions in this country?Especially in an energy sector that is under non stop attack by it own country

We have not hit rock bottom yet and it is going to take years to crawl out even if we get rid of Trudeau next election.

Message to the ones with the most to lose: First Nations
 

When the McKenzie Valley Pipeline moratorium ended, the boys from Huston tried again to get the line approved. Basically the TOLLING Agreements through all the FN "Territories" (AKA Canada) basically added up to 120 % of the value of the oil delivered. The US Companies pulled the plug and all the FN's cried and wept. You see, they went back to collecting welfare, and watching their people languish. Of course it was the Chiefs and Band Council Members who would have endless money to play with.

Their answer? Come back, we can negotiate this! That was just a starting position!

Now there are two Northern Alberta FN Bands who will never in their lifetime see the economic benefits of the Frontier Mine.

Silver lining is NEITHER WILL OTTAWA and the rest of Canada.

This is the First back story: The ones who should have stood front and center with us are the ones who lost one of the few chances at prosperity for themselves. They can tell their Cousins what they have lost.

This is the Second back story: Time and time again, resource development is chased away because of FN conduct. They would gain the most for their communities, and it is their blame to own.

This is the Third Back Story: To tell Ottawa and the rest of Canada what THEY have lost.

There will be very few Golden Geese from Alberta for the rest of Canada to steal eggs from. Time to cut off the money supply to Ottawa and the rest of the Provinces.

To the Teck Board of Directors, a big thank you. Everyone had already counted their golden eggs, and figured that they could spend TEN TIMES more.

Please make sure you tell Canada, the other egg stealing Provinces, and the FN Communities who have unleashed this unrest, what they could have had.

Now, can we get on with separating?

Drewski

Seriously, if you wanted to invest in a huge O&G project like this would you want to to risk it on Alberta, or anywhere in Canada for that matter? You can’t really blame Tech Resources for protecting their ASSets. What can they expect......Delays, red tape, protests :sign0161:

The Wet’suwet’en have the Mohawk to put up barricades to stop them and Alberta has Justin! :angry3:

EDIT......What Smoky Buck said too.

The province was ordered to make a decision by the courts on the Prosper Petroleum Rigel sagd application.

Kenney isn't helping either

This!

Just watch; the rest of Canada will gloat.

Ah yes, the MVP. That project in itself was a bigger loss for Canada than most realize. The oil and gas trapped in the NWT is astronomical, and will forever remain there.
Pretty sad bunch of Indian bands up the whole valley, they shot themselves in both feet and will forever live in poverty now because of it

The writing was on the wall some time ago, our spineless, useless, gutless PM would never approve it, he used the PQ to orchestrate a motion against it and Teck pulled the pin, can't blame them they know that the FN now run Canada and anyone that thinks things are going to get better soon in Canada probably voted for the liberals, another sad day for Alberta and all of Canada.