Teck Cites Climate In Move To Scrap Alberta Oil Sands Project
Law360 (February 24, 2020, 7:37 PM EST) -- Teck Resources Ltd., based in Vancouver, British Columbia, has said it's withdrawing its application for a CA$20.6 billion ($15.5 billion) oil sands project in Alberta, Canada, citing the ongoing public debate over how to balance climate change concerns with the need for fuel.
The announcement on Sunday ends a project that would have produced about 260,000 barrels per day and generated billions in tax revenues, just before the country's government was expected to make a decision on the project.
In a letter to Canada's Minister of Environment and Climate Change, Teck Resources CEO Don Lindsay said the company is "disappointed" but made...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!