Teck Pulls Out

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Teck Pulls Out

Feb 23, 2020 | 19:55 1 Like WTF. With a decision pending this week, Teck now has voluntarily pulled its mine application delaying the project indefinitely. Good god are we fd. Reply With Quote
Feb 23, 2020 | 20:02 2
Quote Originally Posted by jazz View Post
Like WTF. With a decision pending this week, Teck now has voluntarily pulled its mine application delaying the project indefinitely. Good god are we fd.
That is what happens when you F with business people. They get tired of being screwed over and go where they are well received.

This country won’t turn around until we get drama teacher out and get someone who is business friendly in. Unfortunately the damage is done and will take decades to undo. Reply With Quote
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  • Feb 23, 2020 | 20:12 3 You're surprised?

    I'm amazed capital isn't fleeing faster from this 3rd world shithole.

    Who the hell wants to invest good money here to watch it burn in the peace pipe of an Indian?

    Even if they got the approval, they would have to deal with the same shit as Coastal, just because the Indians would say their further consultations informed them that the Great Spirit was against it.

    Burn it all to the ****ing ground and get some ****ing separatist leaders in the West because Kenney is a ****-up. Reply With Quote
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  • Feb 23, 2020 | 20:30 4
    Quote Originally Posted by jazz View Post
    Like WTF. With a decision pending this week, Teck now has voluntarily pulled its mine application delaying the project indefinitely. Good god are we fd.
    We unfortunately will never move forward if we have politicians from Quebec trying to steer the ship. They are intentionally delaying all approvals and adding extra hoops to jump through until corporations move their $ elsewhere. This is their way of killing the energy sector. Reply With Quote
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  • Feb 23, 2020 | 20:34 5 Let's try to stay positive. Assume they left the application in place and Cabinet vetoed it next week. Then it would truly be over. Suppose the announcement is that they are going to delay the application for some unspecified period - IOW until a more reasonable government gets elected. That's what I'm going to believe until I hear otherwise.

    Skippy can't be PM forever. Reply With Quote

  • Feb 23, 2020 | 20:39 6 Fairly obvious Justin Trudeau just drove away more investment. So if you are Jason Kenney what the hell do you do now, what do you say, you must realize the writing is on the wall. If your Justin Trudeau this is a very big gift, FML! Reply With Quote
    Feb 23, 2020 | 20:44 7 They said they pulled it due to the current instability. Worst government in Canadian history. There will be a lot of suffering soon. Reply With Quote
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  • Feb 23, 2020 | 20:46 8 He will spin this just like EE. Oh the economics didnt work out and the company pulled out on their own.

    I dont know whats left. TMX will be the next target, it wont make it now either. Its time to look south. Its better our resources go that way anyway. Just easier. canada is too weak to deal with the real world. Reply With Quote
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  • helmsdale's Avatar Feb 23, 2020 | 20:51 9
    Quote Originally Posted by jazz View Post
    He will spin this just like EE. Oh the economics didnt work out and the company pulled out on their own.

    I dont know whats left. TMX will be the next target, it wont make it now either. Its time to look south. Its better our resources go that way anyway. Just easier. canada is too weak to deal with the real world.
    Unless, hes willing to see "soldiers... with guns... on our streets", theres no way TMX gets across the finish line. Reply With Quote
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  • GDR
    Feb 23, 2020 | 20:56 10
    Quote Originally Posted by Taiga View Post
    They said they pulled it due to the current instability. Worst government in Canadian history. There will be a lot of suffering soon.
    I think the economics of it had a lot to do with it also, but what a waste of years and money for the company. I actually would have rather it got turned down by Trudeau instead of Teck backing off. Now Trudeau isnt forced to make an unpopular decision either way. However would be worse if they approved it but then the company never built it.

    Too bad, would have been a good boost for the economy. I think there is a world of hurt coming to the prairies unless there is a good rebound in gas and oil. Can only coast so long. The stories of people underemployed and such in recent years has been a bit of a lifestyle adjustment but not the devastation yet to come. Reply With Quote
    blackpowder's Avatar Feb 23, 2020 | 21:04 11 Well I hope everyone is happy.

    Or maybe like a 'fair' divorce. No one's happy.
    I can hear it now. Wasn't economical.
    TEN years of study!!!
    TEN years of price fluctuation.
    Feasible until now.
    Who shagged who to get the announcement at the last second.
    Politicos all off the hook.
    And the checks never stopped to those who've gotten them all along.
    Last edited by blackpowder; Feb 23, 2020 at 21:07.
    Reply With Quote
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  • fjlip's Avatar Feb 23, 2020 | 22:05 12 Libtards PAID or threatened TECH to back out. They are of the hook, total criminals.
    Like Climate Cult proponents, a Nuremberg type trial will be necessary to purge the ROT/CORRUPTION off the planet! Reply With Quote
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  • Feb 23, 2020 | 22:07 13
    Quote Originally Posted by jazz View Post
    Like WTF. With a decision pending this week, Teck now has voluntarily pulled its mine application delaying the project indefinitely. Good god are we fd.
    This confirms the economic reality. Brent crude last week was $59.00 a barrel Tar Sands Bitumen is only economically viable at $85,00 to $95.00 a barrel. These pipelines that are government financed are in fact money pits to bleed the taxpayers. Reply With Quote
    Feb 23, 2020 | 22:26 14
    Quote Originally Posted by Integrity_Farmer View Post
    This confirms the economic reality. Brent crude last week was $59.00 a barrel Tar Sands Bitumen is only economically viable at $85,00 to $95.00 a barrel. These pipelines that are government financed are in fact money pits to bleed the taxpayers.
    The construction is 7 years out. Do you know what oil prices will be then? These mega projects have to be started 10 yrs in advance due to the stupid regulations in this country. Reply With Quote
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  • Feb 23, 2020 | 22:31 15
    Quote Originally Posted by Integrity_Farmer View Post
    This confirms the economic reality. Brent crude last week was $59.00 a barrel Tar Sands Bitumen is only economically viable at $85,00 to $95.00 a barrel. These pipelines that are government financed are in fact money pits to bleed the taxpayers.
    Your preference is for oil to be hauled on the rail instead? Weird that a grain farmer would want that.

    The TMX pipeline would of been privately financed but Trudeau and Butts have different ideas. Reply With Quote
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  • LEP
    Feb 23, 2020 | 22:52 16 So the Teck decision is reported in the Toronto star ... anyone think that’s unusual? I bet it was someone in the PMO that tipped them off.

    My guess is that there is a nice government cheque being sent to cover some of the development costs. Payola pure and simple. Reply With Quote
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  • Feb 23, 2020 | 23:26 17 There will be dissension in the ranks over this and when coastal gas pulls the pin as well.
    A lot of First Nations would have benefited tremendously from these projects...
    Reply With Quote
    Feb 23, 2020 | 23:52 18
    Quote Originally Posted by furrowtickler View Post
    There will be dissension in the ranks over this and when coastal gas pulls the pin as well.
    A lot of First Nations would have benefited tremendously from these projects...
    Don't worry. They will make sure their Indian welfare check doesn't drop too much. They weather any storm better than any white man. Reply With Quote
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  • Feb 24, 2020 | 03:34 19 Meanwhile in other parts of the world ......


    $110 billion Jafurah project to make Saudi Arabia a gas exporter...... Reply With Quote
    Feb 24, 2020 | 03:41 20 BTW for people that think it's OK that TECK pulled out for economic reasons .....why try to build it it in a boom....makes more sense to build during a time while oil is low in price to be ready for any price increases. ...


    Gas prices at the pump don't reflect oil prices any more so there may have been a longer term play on a retail side...I don't know...

    I wonder if any liberal did the environmental assessment on all the planes Bombardier made with those billions funneled into Quebec. ? And were never paid back to the taxpayer. ... Reply With Quote
    Feb 24, 2020 | 06:41 21 Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers. Reply With Quote
    Feb 24, 2020 | 06:49 22
    Quote Originally Posted by MBgrower View Post
    Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers.
    Is it Canada or Alberta? All this talk about separation and the way it is being run right now I'm not sure. I don't have a very big circle here but sure is lots talking about moving out some south some west. Strange to say the least. Reply With Quote
    Feb 24, 2020 | 06:50 23 This is textbook example of why trust fund kids should never be given a chance to be in any position of authority. ...they do not understand the creation of wealth. ...they live off someone else's understanding of it....

    The indigenous groups supporting this project should be furious...

    What do people think ...the oil in that area will just disappear and not create an environmental disaster on its own?

    The resource is there....

    This decision should stir the political pot for a while....


    Now it's time for the government to target agriculture... Reply With Quote
    Feb 24, 2020 | 06:59 24
    Quote Originally Posted by MBgrower View Post
    Teck is only one company we will here about pulling out investment in Canada. How many other small, medium and large companies are also going to withdraw or avoid Investing in Canada? Oh well, i guess we can hire more government workers.
    At a meeting I attended last week the speaker had business connections with countries all around the world. He spoke about Canada's reputation on the international stage.

    He said 'We're a joke. Canada is a joke and our prime minister is a laughingstock."

    Went on to say that there isn't a business around right now that would consider investing in Canada.

    Said he hopes that the people in the room have a good understanding of the implications of the breakdown of the rule of law, the effect of the protest atmosphere and the unrealistic government approach to business and industry. It isn't going to be pretty.

    Now why would he say that, do you suppose?

    The worst of it is that while we can try to imagine, we really cannot fathom the broad, negative impact of this asinine Trudeau government.

    But we are about to find out first hand. Reply With Quote

  • Feb 24, 2020 | 07:07 25
    Quote Originally Posted by burnt View Post
    The worst of it is that while we can try to imagine, we really cannot fathom the broad, negative impact of this asinine Trudeau government.
    It isn't just business, its a much bigger issue. Businesses can move pretty fast in the right atmosphere.

    But generational debt, splitting the country into regions and then dividing those people into smaller groups that hate each other, and then flooding those regions with mass immigration who have no understanding of democracy or capitalism, that is likely to never recover now. Bust up is our best option at this point. Reply With Quote
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  • Feb 24, 2020 | 08:05 26 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. Reply With Quote
    Feb 24, 2020 | 08:09 27
    Quote Originally Posted by walterm View Post
    Is it Canada or Alberta? All this talk about separation and the way it is being run right now I'm not sure. I don't have a very big circle here but sure is lots talking about moving out some south some west. Strange to say the least.
    Great question Walterm. Last week an Alberta court ruled the Kenney government must give a ruling on another oilsands project within 10 days. The Prospect project was first proposed back in 2013 and approved by the AER in June 2018. Yet instead of approving the project, or even complying with the court order and rendering a decision, the Kenney government is going to appeal the court order.
    https://www.canadianmanufacturing.co...roject-247207/

    I also believe the growing separatist sentiments are a bigger impediment to business than government policy. Who the hell is going to invest in such uncertainty. Reply With Quote
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    GDR

  • Feb 24, 2020 | 08:26 28 Furtermore, it is obvious from the comments here most of you have not read the letter Tech Resources sent to the government announcing it pullout decision. The given reason is the LACK of a coherent Canadian climate change policy. Instead of touting conspiracy theories, read the Tech letter. https://www.teck.com/news/news-relea...ontier-project Reply With Quote
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  • Feb 24, 2020 | 08:27 29 I thought we had the carbon tax that has been sold as the best solution? Reply With Quote
    Feb 24, 2020 | 08:30 30
    Quote Originally Posted by dmlfarmer View Post
    Furtermore, it is obvious from the comments here most of you have not read the letter Tech Resources sent to the government announcing it pullout decision. The given reason is the LACK of a coherent Canadian climate change policy. Instead of touting conspiracy theories, read the Tech letter. https://www.teck.com/news/news-relea...ontier-project
    That is not what that letter says. It says that govts need to reconcile resource extraction with climate policy because the two cannot coexist as they are. But we all knew that 4 yrs ago.

    This is all on fing Trudeau, nobody else. Teck went 10 yrs on this only to pull out 3 days before a decision. Use your common sense, they were bribed to withdraw it. Reply With Quote
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