[Newsbot]

Title: Now that Teck Frontier is dead, is there a future for Canada's oilsands'
Category: Business
Posted By: Robair
Date: 2020-02-26 08:33:55
Canadian

[Robair]

"You can't make a choice between what's good for the environment and what's good for the economy," Trudeau said. "We can't shut down the oilsands tomorrow. We need to phase them out. We need to manage the transition off of our dependence on fossil fuels."

"That is going to take time. And in the meantime, we have to manage that transition."

-Little Potatoe

[fifeboy]

Robair Robair:

"You can't make a choice between what's good for the environment and what's good for the economy," Trudeau said. "We can't shut down the oilsands tomorrow. We need to phase them out. We need to manage the transition off of our dependence on fossil fuels."

"That is going to take time. And in the meantime, we have to manage that transition."

-Little Potatoe

Little Who?

[DrCaleb]

The mine isn't "dead". Teck has the option to resume the process, if they can find a way to make it profitable at less than $95/bbl WTI.

[FieryVulpine]

It might as well be given that Canada is prone to supply disruptions when certain groups throw a tantrum.

[PublicAnimalNo9]

Might as well put a sign on the door. "Closed for business. Would rather grovel for a UN Security Council seat".

[PublicAnimalNo9]

DrCaleb DrCaleb:

The mine isn't "dead". Teck has the option to resume the process, if they can find a way to make it profitable at less than $95/bbl WTI.

Uhhh yeah. And how long has it been less than $95/bbl WTI?

[DrCaleb]

PublicAnimalNo9 PublicAnimalNo9:

DrCaleb DrCaleb:

The mine isn't "dead". Teck has the option to resume the process, if they can find a way to make it profitable at less than $95/bbl WTI.

Uhhh yeah. And how long has it been less than $95/bbl WTI?

Pretty sure I wasn't the guy costing that project out with those figures.

[PublicAnimalNo9]

DrCaleb DrCaleb:

PublicAnimalNo9 PublicAnimalNo9:

DrCaleb DrCaleb:

The mine isn't "dead". Teck has the option to resume the process, if they can find a way to make it profitable at less than $95/bbl WTI.

Uhhh yeah. And how long has it been less than $95/bbl WTI?

Pretty sure I wasn't the guy costing that project out with those figures.

I'm just saying it sounds like Teck is simply being "nice" about it because of all the other protesting, shutting down of rail lines, lack of govt reliability etc, going on in Canada. I'm pretty sure the price has been less than $95/bbl WTI for a while now, so I have serious doubts it's about the market price.

[DrCaleb]

PublicAnimalNo9 PublicAnimalNo9:

DrCaleb DrCaleb:

PublicAnimalNo9 PublicAnimalNo9:

Uhhh yeah. And how long has it been less than $95/bbl WTI?

Pretty sure I wasn't the guy costing that project out with those figures.

I'm just saying it sounds like Teck is simply being "nice" about it because of all the other protesting, shutting down of rail lines, lack of govt reliability etc, going on in Canada. I'm pretty sure the price has been less than $95/bbl WTI for a while now, so I have serious doubts it's about the market price.

Take into account the project has been under development for quite some time. It began in 2012, when the average price for oil that year was $114/bbl.

https://iaac-aeic.gc.ca/050/evaluations ... ture=en-CA

[herbie]

Oh FFS the fact it will cost more to produce than they can sell it for, demand is decreasing, that there is still no way to get it to market and that OPEC is throttling production to keep prices up doesn't matter.
Trudeau, the enviro-nazis and the FN natives are doing it!
Businesses run on politics, not ROIs

[Thanos]

Since when does an onerous and every-changing regulatory process not add significantly to the cost of doing business? Sorry, I forgot it was literally Mordor in northern Alberta prior to the election of 2015 and Trudeau absolutely had to step in to make sure the ash heaps didn't get any bigger. Jesus fucking Christ....

[stratos]

herbie herbie:

Oh FFS the fact it will cost more to produce than they can sell it for, demand is decreasing, that there is still no way to get it to market and that OPEC is throttling production to keep prices up doesn't matter.
Trudeau, the enviro-nazis and the FN natives are doing it!
Businesses run on politics, not ROIs

Not so sure on the demand being down. China and India seem be going up in demand while most western countries are going down or staying about even with their demand.

OPEC is notorious for slowing down production if the price drops more than they want it to.

[N_Fiddledog]

I like BCF's title for this story:

"After Ceaselessly Promoting The Oil Field’s Demise The CBC Pretends It’s Shocked That There’s No Future For The Oilsands"

[PublicAnimalNo9]

herbie herbie:

Oh FFS the fact it will cost more to produce than they can sell it for,

Bullshit. Why didn't they make the announcement last month, or in December, or November?

herbie herbie:

demand is decreasing,

Which is why Norway has offered 69 offshore exploration licences to 28 oil companies.

herbie herbie:

that there is still no way to get it to market

Only one person to blame for that shit.

herbie herbie:

and that OPEC is throttling production to keep prices up doesn't matter.

Riight. Which is why US production has increased to 12 million bbls per day.

herbie herbie:

Trudeau, the enviro-nazis and the FN natives are doing it!

Bingo.
Well except for the FN. Groper's policies have managed to pit Native group against Native group. Something that hasn't really happened since before Confederation. What a proud day for Groper and Canada. Can't ya just smell the reconciliation?