As the countdown to potential police enforcement at the Tyendinaga blockade were taking place, a bombshell hit – Teck Resources were “temporarily” withdrawing their application for the proposed Frontier oilsands mine, sparing the Liberal Cabinet of what was essentially an impossible decision, but also spurring the disingenuous cries from Jason Kenney and the federal Conservatives as to what this move represents. A big part of the decision was of course the fact that the price of oil is far too low to make the project viable, and global investment markets are making it clear that they are looking to invest in more sustainable projects, but we know that isn’t going to be the narrative that is being used to howl about it.
Teck has withdrawn its application for the Frontier oil sands mine. First reported by @MariekeWalsh – here is the letter from the CEO of the company to Fed Env Minister Wilkinson: pic.twitter.com/5zl1LkMtuQ
— Vassy Kapelos (@VassyKapelos) February 24, 2020
There is going to be so much wailing and gnashing of teeth over the next few days that the Liberals “politicized” the approval (which is funny considering it was the Conservatives that wrote in said politicization into the legislation in 2012, which was the process by which this project was being assessed), and that this will somehow be a loss of $70 billion in revenues (never mind that said figure comes from estimates that oil was somewhere around $95/barrel, when it’s currently hovering around $50 and is likely to remain so in the near term). Remember that there are about 20 other approved oilsands projects in Alberta that aren’t getting built because oil prices are too low to make them viable, and Teck has been saying for weeks if not longer that this was going to be the case as well – and yet Kenney, Scheer, and company have been making this approval into some kind of symbol or totem about the supposed health of foreign investment in Canada. It was only ever bullshit designed to make people angry for their political gain, but that’s what political discourse has devolved into these days.
https://twitter.com/Lazin_Ryder/status/1231794973776863232
https://twitter.com/Lazin_Ryder/status/1231797606335991810