Currents - Energy Industry Insights - February 2020 #4

Spilman Thomas & Battle, PLLC

Cancelled Teck Oil Sands Project Underscores Global Climate-Energy Policy Tension -

"The Frontier project became the latest casualty in oil-producing countries with robust environmental movements agitating to cut fossil-fuel development due to global warming."

Why this is important: This article is important for two reasons. First, it highlights the real and significant economic ramifications associated with transitioning the energy sector away from fossil fuels. In this single instance, Alberta lost a $20 billion project whose lifetime economic benefit to that area would have far exceeded the capital cost of the project. The second important factor is why the project was cancelled....

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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