Teck Thinks Its Oilsands Mine May Be a Bust. Why Push Approval? - 2020-02-13

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F0.png Teck Thinks Its Oilsands Mine May Be a Bust. Why Push Approval? February 13, 2020, Geoff Dembicki, The Tyee

Any day now the federal Liberals could approve a massive new oilsands mine that by several key metrics makes little business sense.

"You don't have to be a financial genius," said Kathy Hipple, an analyst with the Institute for Energy Economics and Financial Analysis, a New York-based research group. "This is an extraordinarily risky project."

Vancouver's Teck Resources is basing the viability of its Frontier mine on the assumption that oil prices will average about $95 per barrel until the 2060s, despite the current price of oil being less than $60 per barrel and even Canada's National Energy Board predicting that a long-term price of $75 is more likely.

Wikipedia cite:
{{cite news | first = Geoff | last = Dembicki | title = Teck Thinks Its Oilsands Mine May Be a Bust. Why Push Approval? | url = https://thetyee.ca/News/2020/02/13/Oilsands-Mine-Push-Approval/ | work = The Tyee | date = February 13, 2020 | accessdate = February 13, 2020 }}