Teck withdraws application for $20B Frontier oilsands mine, citing debate around climate policy

CBC News

There's probably lots not being shared here. When I first learned of this project, I couldn't help wondering, "Why?" From everything I've read about the Tar Sands, I've come to conclude there's probably not a whole lot of money left to be made there. The Canadian government's been subsidizing Alberta for tens of billions of dollars for the past decade now. Not a whole will probably change in the near future, except for the continual inflation of costs to keep Alberta going. When it's all said and done, the Tar Sands will probably have drained 100's of billions of dollars out of Canadian taxpayers' hands, and there'll be nothing to show for it in government treasuries.

I thought for certain this development was one last ditch effort to drain some more free capital out of the Albertan and Canadian treasuries, but for the company to wind down the project at this point speaks that Canada and Alberta both wanted the other to bail this development out. There was nothing forthcoming, and so it dies, which is all well and good, as I never saw profit in its future except for debilitating government subsidies.

However, the federal government is keeping quiet on this. The Albertan government is bleating, blaming the federal government for this failure, but there was probably never any saving this project. The Canadian government's been bending over backwards for Alberta for two decades. Any further bending would break the federal government's back.

Comments

Private Equity is a TERRIBLE Investment... Who Keeps Giving Them Money? — How Money Works

Not too much to comment. Business in the USA and by extension Canada is bad right now. Probably for a generation. We really do need a generational plan to get us out of this mess. A ten to twenty year program, unfortunately. Placing pieces onto the board and moving them where they need to be to make things work again. By pieces, I mean people. We need good strong policies to implement as well. There's a lot to think about.

BC Election Preliminary Results Thoughts and Feelings and Some Preliminary Analysis

The BC NDP will possibly hold onto power in the province of BC. With a Confidence and Supply Agreement with the Greens, they should aim for four years of stable government. However, they should also look inward. They should take good lessons from this near-loss of power. The BC NDP wanted to take a "centrist" position —that they were "safe for business"— but have no idea that the further right the party tacks, the more this plays into the right's strengths giving parties like the BC Conseratives headwinds to go even further right. Rather than safe, the BC NDP needed to announce policies that would've been like swinging haymakers at certain business interests especially for rentals; businesses taking advantage of low wages for international workers; and universities taking advantage of international students. For current rent prices, this plays twofold against the NDP. Rent prices as they are now depress voter turnout for the NDP. People see the NDP as ineffe...

Carney speaks after capitulating to Trump's demands

Dunno how else it can be explained other than capitulation. Carney, you weren't elected to kowtow to Trump. You were elected to stand up to him. Canadians may even start to get buyers remorse for ditching Trudeau for you when he showed far more backbone than this. At least he cared more about Canadian sovereignty than this act. What exactly have you extracted for this? What benefit did this provide for Canadians compared to the billions in revenue Canada stood to gain from the Digital Services Tax as well as protecting Canada's ability to create its own taxes?

Metaneos

Search This Blog