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Arrested development

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Without a doubt, there will be as many interpretations of what just happened as there are opinions on what should have happened.

What happened is that Teck Resources decided to suspend one of the largest energy projects in Canada — at least for now — mere days before the federal cabinet was set to decide whether to give the project the go-ahead.

The Frontier Oil Sands project was a $20.6-billion undertaking that was expected to create thousands of jobs in northern Alberta.

Sunday, even though the project had passed almost every hurdle (including successful negotiations with Indigenous groups), the company said it wouldn’t be going ahead.

As most business decisions are, putting the project on hold was the result of many factors, including current and future oil prices.


© The Telegram