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