Cancelled Teck oil sands project underscores global climate-energy policy tension

WINNIPEG, Manitoba/OTTAWA (Reuters) – Teck Resources Ltd’s surprise decision to cancel a planned C$20.6 billion ($15.6 billion) oil sands mine in northern Alberta, citing uncertainty about Canada’s climate policy, underscores a global struggle to balance energy growth with environmental concerns. FILE PHOTO: Visitors pass a logo of Teck Resources Ltd mining company during the Prospectors and Developers Association of Canada (PDAC) annual convention in Toronto, Ontario, Canada March 4, 2019. REUTERS/Chris Helgren/File Photo The Frontier project became the latest casualty in oil-producing countries with robust environmental movements agitating to cut fossil-fuel development due to global warming. Pipeline and drilling projects in the United States and Canada, the largest and fourth-largest oil producers in the world, have been halted or delayed due to opposition to energy development. Teck on Sunday withdrew its application to the Canadian government to build Frontier. “The world is changing .. you can no longer build a strong economy if you are not fighting climate change at the same time,” Prime Minister Justin Trudeau said in Ottawa’s House of Commons. Delays in building new pipelines have forced the Alberta government to curtail oil production. Protests by indigenous groups linked to a planned gas pipeline have disrupted […]

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