TECK FRONTIER — ANOTHER MAJOR OIL SANDS SURFACE STRIP MINE WITHOUT AN UPGRADER
Mike Priaro, P.Eng.
First uploaded June 9, 2018
A federal-provincial panel says Vancouver-based Teck Resources' Frontier Oil Sands Mine project application can now advance to public hearings set to take place as early as September.
It is accepting submissions about preferred locations/dates for the hearing, adding that requests to submit evidence or participate must be made in writing by June 22 (that's not enough time!).
Teck's $20 billion Frontier oil sands surface strip mine project north of Fort McMurray will produce 260,000 bbl/d of bitumen starting in 2026. It will join Imperial/ExxonMobil's 220,000 bbl/d Kearl project and Suncor's 194,000 bbl/d Fort Hills project (owned 21% by Teck, 54% by operator Suncor) as the only oil sands surface strip mines without upgraders.
These surface strip mines without upgraders result in:
- increased exports of no-value-added raw bitumen as dilbit;
- discounted, rock-bottom bitumen prices resulting in royalty rates as low as 1%;
- increased demand for expensive diluent;
- deductions for diluent costs from already low royalties;
- reduced pipeline capacity as a result of diluent volumes exported and imported;
- fewer jobs for canadians;
- lower government revenues;
- high environmental liability with little domestic economic reward; and,
- higher profits for U.S. refiners.
Why do Albertans keep doing this to themselves?!
Mike Priaro, P.Eng.
Calgary
403-281-2156
