Teck withdraws from Frontier
Teck's withdrawal signifies a major turning point in the struggle between forces opposing a fundamental shift in the use of fossil fuels and governments and industries resisting a transition.
The company's signalling that Teck would have to write off $1.l billion of its spending on the Frontier project, foreshadowed the difficult corporate decision.
The immediate political fallout: in Ottawa a sigh of relief. In Alberta: instant anger but also a slow realization, a coming to terms that the "last boom" was indeed the last boom. It is now time for the adults in the room to come to terms with a new tomorrow.
It will be especially painful for the Kenney government which had placed so much attention on the project, demanding "Ottawa" approve the project. But the tone was irrelevan...
