Teck Mine Disregards Low Oil Prices – The Energy Mix
But “the supposed benefits of the project were based on revenues supported by oil prices of $95 per barrel or greater,” they add. “Current trends of fossil fuels under-performing and glutting markets are expected to continue, as fracking and renewables provide steady competition.”
In mid-December, veteran climate campaigner Tzeporah Berman said the federal cabinet’s decision this year to approve or disallow the Teck mine will test the newly-elected government’s commitment to the net-zero carbon target it has promised.