Teck oilsands mine: The pros and cons | Power & Politics Teck oilsands mine: The pros and cons | Power & PoliticsA massive oil sands project in Alberta, that’s about a decade in the making faces of potential liver diet decision this month. The proposed Tech Frontier mind is awaiting approval or rejection from the federal cabinet. Politically, the stakes are high. Have you seen his inconsistent with the Liberals? Climate commitments Anoka drive a wedge deeper between Ottawa and Alberta, but what are the environmental and economic considerations? There’S a reality check University of Calgary, where he focuses on environmental and natural resources.
Law & policy he is in Calgary, Amber Leach is an energy and environmental economist and his associate professor at the University of Alberta. He is in Edmonton, gentlemen thanks so much for joining us happy to be here with you we we know this is a big project with a big environmental footprint, layoff the environmental impact of the tech Frontier mind if his project goes ahead when it’s at full operation. So I mean in lots of ways I can we have about 6 or 7 7 Operating mines right now in the Fort McMurray region.
This one would be the farthest north until part of the trick is what maybe distinguishes it a little bit from those other project. Is its proximity to Wood Buffalo national park? There is also the Ronald, buys and heard in this area that we know will be impacted and there’s a lot of concerned about that. So I mean, but you know one of the things that is. assistant across-the-board here is that we know that there are massive landscape scale in packs and then there are, you know what we’d I think focus on a little bit is the actual, the Reclamation and of Things we know that oil sands project mine project, like this, generate entailing that’s going to be a problem here.
We know that there is considerable in packs at the end for Reclamation terms of like site closure and how those sites are going to interact with the Athabasca River as an example and any idea who that there’s going to be a massive N Pit Lake and then Of course, in the meantime, we have no significant emissions. There will be significant impact on Wetlands. There will be significant impact on endangered species like the Woodland Caribou as a result of habitat loss and then, of course, also the ghg emissions which you know roughly 4.1 million.
I think times we said Puryear CO2, CO2, equivalent pools worth it worth of tailings generated over this in a cleanup process that will go to 2131 Sowell into the next Century. So how does that compare with other projects? So they all have this General, and in on this, is where things I should that we’re worried about that. We wanted to sort of signal in this piece is that they all have these very long Reclamation sort of Horizons, in fact, most of the work. If you look at the schedules – and some of these have been independent Institute – did a good job of sort of placing these on on his autograph on on their website.
Everything here starts really doesn’t start until after 20-30 and then extends well into the end of the century and then beginning to the next one, and that’s a really big problem. I think, in terms of you know why I think there was an assumption, maybe 10 years ago, when the lot is mine came on site online. , But that was going to be an acceptable Horizon. But when we start looking at climate change and a climate change policy and then we’re seeing you know the world energy Outlook in these other organizations, where they’re starting to revise and see applications here for the price of oil, for instance, then suddenly, those long time Horizons Become a little bit problematic and and create a lot of uncertainty, I think about the weather.
Now we’re going to be able to get this work done and whether the companies are going to be able to get it done. I want to bring you in on this because it did the oil price at this project needs to be an economically viable according to the people who are behind it, it is a fair bit higher than it is today in a fair bit higher than it is Projected to given the uncertainty about a oil prices viable, is this project right now? The answer is, it isn’t viable and it’s one of maybe 20 that are that are in the queue that could be built that are waiting for higher oil prices.
What makes this project specialist, it’s probably the one, that’s waiting for the highest oil price set up a mine is always going to be expensive, long-term bat on on oil and you’re buying the length of time of the project that 40-year production Horizon. I’M talking about. What’S changing World in terms of global oil demand action on climate change? These types of projects require a much longer-term baton, high prices than some of the other ones, to look at the job number 7000 jobs in construction, 2500.
Jobs when the mind is up and running at his operational, I mean: can you conceive a point I mean given the job spinoff in the world. Ebenefits at this would bring. Can you see a point where this could get over the bar being economically viable you’re? Looking at all prices that are certainly 70, if not into the $ 80 a barrel range, and the other thing we highlight in RPGs, which I think is really important, is That Azz Up price comes down, as we end up closer to a break-even you’re, also cutting Down the royalty PacSun cutting down the tax impacts, so a lot of people are citing that 70 billion dollar number.
Where Have You Been send text application? But a lot of that comes from the fact that that you’re dealing and high oil prices in that estimate of you pull the oil price you’re, going to take away a lot of those taxes and royalties that would come with. It sounds like the environmental downside. It is pretty clear, but the economic upside is is fairly uncertain at this point, if you were advising the cab that on this issue than make a decision by the end of this month, what would you tell him to do one of the course that there might Be right that they are outdated, the Q about eight nine years ago, so it might be time to take a look at that.
There are significant changes I think in circumstances, but I think the other thing to say is that you know for a lot of these issues, especially including tailings, I mean the tradition. In this context. I’Ve been to the first, The Province and, notwithstanding the fact that a lot of these things is a particular, I can ask significant impact on every the federal jurisdiction, especially fish Barry Waters right in the area. Until I think one thing would be to really think. . You say about maybe breaking with that convention and insisting on some rigorous terms and conditions with respect detailing, to make sure that these don’t become Legacy issues down the road that would make it even less economically viable, though we’re not putting in effort face.
But I mean where you know: we’re staring at 1.4 trillion liters of tailings right now and it’s more less in the few reports. I’Ve been done and then looked into this from an independent sort of scientific perspective. It said that we have not yet demonstrated the ability to reclaim these two at-scale, and so this is us when we’re already dealing with again, like I said, the Legacy situation right now is: is around 1.4 trillion, so the idea that you would pile on bring on Another mind that wood pile onto that inventory – and you really don’t have any basis for saying that this is an issue that we can deal with IUI.
I think that any heart, you aren’t responsible regulator in any kind of government, has to take a look at that side of the Ledger as well and really should you see any way for the federal cabinet to get the yes on this project and if it isn’t, How would you recommend I go about addressing the Fallout that this would undoubtedly created Alberta Macy’s, but they probably need more Assurance on on greenhouse gases as well. So they need to be able to say that this is locked in and in terms of Alberta’s Hunter Beckett.
Uncap they’ve been pretty clear on that: it’s not yet regulated, but you know: there’s a problem goes beyond the tech mine. So insofar as both Premier Kenny and premiered fruit are trying to find a way. I think to come to an agreement on this there’s a way that Alberta can help this, which is to say we’re going to solve our Reclamation liabilities, we’re going to push for tailing Solutions and we’re not going to prove something in our own house that doesn’t have A solution to it, so if you look at the tech of application, they they basically say yeah, it’s a long time before we have to deal with these and Hitler for this project, but it’s not a long time for other projects that are on the Landscaping, Alberta And so I think it so far as the federal government cannot use this project in the end of Georgia sense, but help push Alberta towards better overall framework and a handle on his Reclamation liabilities.
There might be a win-win here on the environment and the URL sounds. . Okay, thank you.Environmentalists argue that approving the Teck Frontier mine is inconsistent with Canada’s climate change goals, while those who support the oilsands project say rejecting the project would hurt the country’s economy and deal a major blow to national unity.
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