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View Richard Cannings Profile
Madam Speaker, Teck is a huge employer in my riding. The Trail smelter is one of the biggest smelters in the world and I meet with Teck on a regular basis, every year or more than that. For the last five years, I have been hearing from Teck about the Trail operation, about its coal operations in southeast B.C. and about the oil sands projects it has on the go. It has always prefaced the discussion about the oil sands project by saying that the price of oil is paramount and it just does not see a way forward at this time.
Don Lindsay's letter mentions that it is difficult to get investments from various institutions because they want to see how this project fits in with the climate action. Those are the things that are driving this, and it is not the spot price of oil. The price of oil was predicted not to go above $60 or $70 for the next 20 years.
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