Teck Pulls Out

[furrowtickler]

The economics of new oil sands projects have been in trouble for awhile.

Lots of big investors have been pulling out and looking at better and safer places to invest. Large investor groups are under pressure to reduce investments in tar sands oil.

And with China in trouble and the world economy about to slow down or contract then why invest in a mine that may never make money?

I am sure all the hyper partisans will lay all the blame on Trudeau and the Liberals. But Teck has been signalling that the economics are not good enough. The downturn started while Harper was in the PMO.

Well it’s a great thing all these steam plants are doing extremely well in the area. More opportunities here then I guess .

[macdon02]

Personally i don't see this as detrimental, crude hasnt bottomed yet imo. It's possible they are seeing the same and thinking they can get in closer to bottom. It's easier if govt is begging for investment as regulation gets relaxed. Id wait. Once the flu hits Toronto and Vancouver the mood will change especially if the locals run Chinese investment out of town due to flu fears. Patience.

[rumrocks]

I doubt dml has ever worked in business. They have scores of analysts and experts that give them information on market conditions, supply, demand, cost of production. They know how to guage that risk.

The risk they cant guage is when some SJW marxist gets into power and dreams up a climate scam, or when foreign NGOs get funded to lay down in front of projects and spam twitter all day, or when indigineous folks are weaponized in the fight or when the prospect of endless layers of unelected unaccountable indignenous leadership and royalty cannot be resolved to provide consent.

I agree, future governments [post Trudeau] have an almost impossible job ahead of them when it comes to native negotiations for future projects, unless you get all members of the band signature on the document it may not be considered valid, similar to stapling jelly to the wall.

I place full blame on the RCMP commissioner and JT for allowing this precedent to be set.

It will take many years to clean up the rubble and mess that the JT has left Canada in and restore our reputation as a country that admires and respects big business.

Some people are concerned about the corona virus costing hundreds of billions to countries around the world, meanwhile western Canada has had our own very costly virus since Oct 19 2015.

[blackpowder]

IT IS ABOUT MAKING MONEY!!!
To do that you have to produce something. Why is the conversation always about something else????
Yes, most people alive today have never had to do that. But wow, can't anyone get it?????
How easy for people to cheer the decline of our economy.
Starting to run out of sympathy.
Health cuts?? Good!
Grain prices down? Great!
Budgets slashed awesome!
No money for the less fortunate? Perfect!!
Blame the govt for everything?
Of course!!!
NO. It's the people who are tying the ends against the middle. Ignoring basic math. Nobody moves, nobody gets hurt.
Reap what you sow. Go pitch a tent in the bush and be one with Mother Earth. Good luck.
Socialist idiots. Your grandfathers are weeping in their graves.

[fjlip]

And UN demands TMX is cancelled too, enemies in every corner! Why is everyone picking on us?

https://www.valuewalk.com/2020/01/trans-mountain-pipeline-un-canada/ https://www.valuewalk.com/2020/01/trans-mountain-pipeline-un-canada/

[blackpowder]

Because we allow it.

[furrowtickler]

And UN demands TMX is cancelled too, enemies in every corner! Why is everyone picking on us?

https://www.valuewalk.com/2020/01/trans-mountain-pipeline-un-canada/ https://www.valuewalk.com/2020/01/trans-mountain-pipeline-un-canada/

The weak always get picked apart .
Plus Skippy wants this , the UN about to dictate all Canadians lives .

[jazz]

Weak, divided, no leadership. Canada never defends its industries. They are ripe for the picking for other nations and unelected bodies.

Ab may just have the largest oil reserves on the planet. Of course some nations would want that shut down. Look what happened to our fisheries.

[macdon02]

Blackpowder, I used to think the same, then i realized the govt is so corrupt regardless the party it doesn't matter, they don't give a phuck about you or me or anyone that voted for them. They are all narcissistic power hungry leeches, every last one. If society wants to trust their promises in these people's hands, I say give it to them good and hard. People will get hurt regardless because everything they trust and have faith in will vaporize. The numbers will vanish and maybe we wake up and know that time is the most valuable commodity. Today we are chasing a carrot to feed govt because tbh they are getting a bigger cut then us or our families. It's honest intentions chasing moar, supposedly a means to an end. The goal line keeps moving as govt takes a deeper cut to get re-elected. I chased that carrot longer then i wish to admit, but to start with, it seemed reasonable, but it was moving faster then i was, I just didn't see the bus coming because i had my head down at work, like everyone else. I was stuck in the herd chasing more land and working harder because that's what my dad told me to do. Dad was wrong and I was wrong. That's when you realize you are getting phucked, the moment you admit everything you believed correct is a lie. I don't really blame dad, I fell for it, he fell for it and the politicians might just be relying on our beliefs that hard work pays off in the end. I cut my acres, in half, the newest iron is '17 and oldest '09. I've spent the last 10 years studying markets in depth, i still get shit wrong. But I have time to hang out with my 16&11 yr old kids, and I know when I'm wrong in hours not years. If there's one thing im looking forward to, it's getting as many dollars out of this country as humanly possible when it's time to lay the Big Short on because this is not sustainable. I look at Venezuela and Argentina and that's what is coming, currency to a small fraction of a dollar and stock market through the roof. Except I don't want it in loonies, it'll be stocks and USD and likely bitcoin or whatever the flavor of the month is after USD tops. It might be bushels. If the carbon tax doesn't get the go ahead, they are coming after assets or more gst or idk but they need more to keep the cycle going, it's all they know. I realize this is likely an overly dark analysis of the current situation and I risk sounding batshit crazy, I really don't care. This won't change until it crashes.

[jazz]

In Kennys speech yesterday it sounded like some unorthodox strategies were going to come into effect, perhaps the govt AIMco picking up the Teck lease or maybe even purchasing a pipeline.

He announced some citazens referendum bill that gets closer to a provincial referendum, but still slow on that front. But he did say the resource would be developed come hell or high water.

Macdon, if you are converting to US dollars now would be a good time because a BoC rate cut is coming and our dollar support will be gone;

https://business.financialpost.com/investing/investing-pro/blows-keep-coming-for-our-economy-and-the-bank-of-canada-will-be-left-to-clean-up-the-mess?video_autoplay=true Blows keep coming for our economy, and the Bank of Canada will be left to clean up the mess

For those wondering what the potential impact will be, we recommend having a look at the Australian dollar which until May of last year had a strong correlation with our currency’s relationship to the U.S. dollar. Back then both were at 0.75 but the AUD has since been walloped down to 0.66.

[jimmy]

Eventually it will all end after a major bloodbath. New generations hasn’t a clue where or what it takes to run a economy. When all the money runs out blood will flow. Restart

[bucket]

Eventually it will all end after a major bloodbath. New generations hasn’t a clue where or what it takes to run a economy. When all the money runs out blood will flow. Restart

Someone is going to put the big boy pants on eventually instead of these diaper wearing trust fund punks of Morneau and Trudeau....

And shit is going to hit the fan...

[tweety]

Its actually quite simple why they abandoned. They heard the government was going to announce on Friday they were going to once again delay the decision.

[Oliver88]

Nice work Mr Dressup:


Russia is building world's largest oil project:
* $150B+ in investment
* 15 new towns
* 800 km pipeline
* 2 airports
* seaport
* 100k jobs
* 2% to gdp

All that in 10yrs = same time it took Canada's red tape to kill off

[Guest]

Someone is going to put the big boy pants on eventually instead of these diaper wearing trust fund punks of Morneau and Trudeau....

And shit is going to hit the fan...

fu ck it , burn the bas tard down , get on with it
most of us on here can get by with SFA, those useless fu cks that voted this mess in sure can't , they will starve to death as soon as sobeys shelves are empty , i couldn't fu ken care less anymore
they need a fu ken wake up call , might as well have the fire and get on with the rebuild
hard times make strong men and thats the only way outta this fu ken mess
its evolution and as near as i can see we have evolved into a sorry fu ken mess