Canada Oil Sands Project Scrapped

[texasfiddler]

I’ll take any good news at this point[link:https://www.cnn.com/2020/02/24/business/canada-oil-sands-project-scrapped/index.html|

[knightmaar]

1. For those who don't live in Canada ...

... our railroads are currently blockaded (out west where the pipeline will go and, in sympathy, here between Toronto, Ottawa and Montreal) by aboriginal protesters.

That could be part of the reason for this pull out.

[DanieRains]

5. Maybe They Understand Their Grandchildren Don't Have A Chance

Unless we change lots soon.

Tar sands oil is the stupidest thing since leeches for sickness.

[FBaggins]

6. I'm sure that protests didn't help... but this is straight economics

The tar sands have been struggling for a few years now. It made economic sense (ignoring externalities) at >$100/bbl... but fracking has changed the industry. Without the prospect of $100 oil in the reasonably near-term... nobody is going to invest billions in expanding tar sands production.

[hatrack]

7. Their projections were crap, w. oil at $95/bbl, which is hallucinatory . . .

It's around $50 or slightly less at the moment, and it's been bouncing around there for a couple of years.

[iluvtennis]

2. Yes, some good news for our global environment. nt

[Hekate]

3. This is definitely good news!

[JudyM]

4. And another one goes down today, too!

Duke Energy, Williams Cos. and partners end the $1B Constitution Pipeline project
https://finance.yahoo.com/m/0d4d6d39-1371-3d56-9c83-ad0f52191db0/duke-energy-williams-cos-.html