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Teck Resources’ proposed huge oil sands project deemed in the public interest

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Teck Resources’ proposed huge oil sands project deemed in the public interest
Two workers standing at a railing talking.
Teck's proposed Frontier oil sands project in located in Alberta. — Photo courtesy Teck

It sounds like Teck Resources' proposed Frontier oil sands project is one step closer to approval, as a Federal government panel files a positive report about the massive project.

Here are some highlights according to the financial analysts site Seeking Alpha:

  • A Canadian federal-provincial panel says Teck Resources' proposed 260K bbl/day Frontier oil sands project in Alberta would be in the public interest, even though it likely would significantly harm the environment and indigenous people.
  • The panel's report includes several dozen recommended conditions, include mitigating harm to wildlife, monitoring pollutants and taking into account feedback from nearby First Nations.
  • The panel also says the federal government could reap C$12B in taxes and Alberta could accumulate C$55B, with another C$3.5B in municipal property taxes, over the project's projected 41-year lifespan.
  • Environmental groups question how allowing the project would square with Canada's plans to cut greenhouse gas emissions; Teck estimates the mine would emit 4.1 megatonnes of carbon dioxide per year.
Graphic showing the process of mining at Teck's Frontier oil sands project.
The process of mining at Teck's proposed Frontier oil sands project. — Photo courtesy Teck