Teck Pulls Out

[LEP]

So the Teck decision is reported in the Toronto star ... anyone think that’s unusual? I bet it was someone in the PMO that tipped them off.

My guess is that there is a nice government cheque being sent to cover some of the development costs. Payola pure and simple.

[furrowtickler]

There will be dissension in the ranks over this and when coastal gas pulls the pin as well.
A lot of First Nations would have benefited tremendously from these projects...

[15444]

There will be dissension in the ranks over this and when coastal gas pulls the pin as well.
A lot of First Nations would have benefited tremendously from these projects...

Don't worry. They will make sure their Indian welfare check doesn't drop too much. They weather any storm better than any white man.

[bucket]

Meanwhile in other parts of the world ......


$110 billion Jafurah project to make Saudi Arabia a gas exporter......

[bucket]

BTW for people that think it's OK that TECK pulled out for economic reasons .....why try to build it it in a boom....makes more sense to build during a time while oil is low in price to be ready for any price increases. ...


Gas prices at the pump don't reflect oil prices any more so there may have been a longer term play on a retail side...I don't know...

I wonder if any liberal did the environmental assessment on all the planes Bombardier made with those billions funneled into Quebec. ? And were never paid back to the taxpayer. ...

[MBgrower]

Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers.

[walterm]

Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers.

Is it Canada or Alberta? All this talk about separation and the way it is being run right now I'm not sure. I don't have a very big circle here but sure is lots talking about moving out some south some west. Strange to say the least.

[bucket]

This is textbook example of why trust fund kids should never be given a chance to be in any position of authority. ...they do not understand the creation of wealth. ...they live off someone else's understanding of it....

The indigenous groups supporting this project should be furious...

What do people think ...the oil in that area will just disappear and not create an environmental disaster on its own?

The resource is there....

This decision should stir the political pot for a while....


Now it's time for the government to target agriculture...

[burnt]

Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers.

At a meeting I attended last week the speaker had business connections with countries all around the world. He spoke about Canada's reputation on the international stage.

He said 'We're a joke. Canada is a joke and our prime minister is a laughingstock."

Went on to say that there isn't a business around right now that would consider investing in Canada.

Said he hopes that the people in the room have a good understanding of the implications of the breakdown of the rule of law, the effect of the protest atmosphere and the unrealistic government approach to business and industry. It isn't going to be pretty.

Now why would he say that, do you suppose?

The worst of it is that while we can try to imagine, we really cannot fathom the broad, negative impact of this asinine Trudeau government.

But we are about to find out first hand.

[jazz]

The worst of it is that while we can try to imagine, we really cannot fathom the broad, negative impact of this asinine Trudeau government.

It isn't just business, its a much bigger issue. Businesses can move pretty fast in the right atmosphere.

But generational debt, splitting the country into regions and then dividing those people into smaller groups that hate each other, and then flooding those regions with mass immigration who have no understanding of democracy or capitalism, that is likely to never recover now. Bust up is our best option at this point.

[chuckChuck]

The economics of new oil sands projects have been in trouble for awhile.

Lots of big investors have been pulling out and looking at better and safer places to invest. Large investor groups are under pressure to reduce investments in tar sands oil.

And with China in trouble and the world economy about to slow down or contract then why invest in a mine that may never make money?

I am sure all the hyper partisans will lay all the blame on Trudeau and the Liberals. But Teck has been signalling that the economics are not good enough. The downturn started while Harper was in the PMO.

[dmlfarmer]

Is it Canada or Alberta? All this talk about separation and the way it is being run right now I'm not sure. I don't have a very big circle here but sure is lots talking about moving out some south some west. Strange to say the least.

Great question Walterm. Last week an Alberta court ruled the Kenney government must give a ruling on another oilsands project within 10 days. The Prospect project was first proposed back in 2013 and approved by the AER in June 2018. Yet instead of approving the project, or even complying with the court order and rendering a decision, the Kenney government is going to appeal the court order.
https://www.canadianmanufacturing.com/manufacturing/court-gives-alberta-10-days-to-make-decision-on-oil-sands-project-247207/ https://www.canadianmanufacturing.com/manufacturing/court-gives-alberta-10-days-to-make-decision-on-oil-sands-project-247207/

I also believe the growing separatist sentiments are a bigger impediment to business than government policy. Who the hell is going to invest in such uncertainty.

[dmlfarmer]

Furtermore, it is obvious from the comments here most of you have not read the letter Tech Resources sent to the government announcing it pullout decision. The given reason is the LACK of a coherent Canadian climate change policy. Instead of touting conspiracy theories, read the Tech letter. https://www.teck.com/news/news-releases/2020/teck-withdraws-regulatory-application-for-frontier-project https://www.teck.com/news/news-releases/2020/teck-withdraws-regulatory-application-for-frontier-project

[bucket]

I thought we had the carbon tax that has been sold as the best solution?

[jazz]

Furtermore, it is obvious from the comments here most of you have not read the letter Tech Resources sent to the government announcing it pullout decision. The given reason is the LACK of a coherent Canadian climate change policy. Instead of touting conspiracy theories, read the Tech letter. https://www.teck.com/news/news-releases/2020/teck-withdraws-regulatory-application-for-frontier-project https://www.teck.com/news/news-releases/2020/teck-withdraws-regulatory-application-for-frontier-project

That is not what that letter says. It says that govts need to reconcile resource extraction with climate policy because the two cannot coexist as they are. But we all knew that 4 yrs ago.

This is all on fing Trudeau, nobody else. Teck went 10 yrs on this only to pull out 3 days before a decision. Use your common sense, they were bribed to withdraw it.