Canada’s Teck Resources Ltd. has withdrew its application for a $20.6 billion Alberta oil sands project because the Trudeau government’s environmental and climate change policies lack “clarity.”

H/T: Daily Caller

In an open letter to Canada’s Environment and Climate Change Minister Jonathan Wilkinson, CEO Don Lindsay wrote, “I want to make clear that we are not merely shying away from controversy. The nature of our business dictates that a vocal minority will almost inevitably oppose specific developments.”

“It is our hope that withdrawing from the process will allow Canadians to shift to a larger and more positive discussion about the path forward. Ultimately, that should take placewithout a looming regulatory deadline,” he added.

The withdrawal of Teck’s Frontier Mine application is more devastating news for the Canadian economy, especially for Albertans & indigenous people.



This decision is clearly the result of federal regulatory uncertainty & the current lawless opposition to resource development. pic.twitter.com/DXGKC6mCo9 — Jason Kenney (@jkenney) February 24, 2020

The economic consequences of the decision are devastating. According to True North, “Had the project moved forward, the Teck Frontier mine would employ 7,000 people during its construction and 2,500 during its expected 40-year lifespan. Teck expects that the government would earn $70 billion in tax revenue from the mine during its lifetime.”

Had the project moved forward, the Teck Frontier mine would employ 7,000 people during its construction and 2,500 during its expected 40-year lifespan. Teck expects that the government would earn $70 billion in tax revenue from the mine during its lifetime. — True North (@TrueNorthCentre) February 24, 2020

Read the full letter below.