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...

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