Teck Resources Ltd. has withdrawn its application to build a massive oilsands project in northern Alberta Canada – February 24, 2020,
Well, the day has arrived, Teck Resources Ltd. has withdrawn its application to build a massive oilsands project in northern Alberta. I saw this coming, it was inevitable, the Trudeau government has been phasing out the energy sector in Canada and because the people in Alberta were too scared or didn’t think it serious enough a problem to either vote for the People’s Party of Canada or create their own “Alberta First” political party, the inevitable has happened and will continue to happen as long as Albertans refuse to stand up for themselves.
Jason Kenney is not threatening in any way, I believe I only heard Jason Kenney bring up separatism a few times in which he did try to either minimize it or distance himself from it. If a massive socially responsible company like Teck Resources Ltd. is not going to build any new massive energy projects Alberta chances are the phasing out of the Albertan oilsands has officially arrived.
If the Canadian dollar is no longer linked to the price of oil, well then the reality is that the Loonie is going to start to decline. In my mind, I see it potentially costing Canadians $1.47 to purchase $1US dollar and although many see this as a stimulus for the Canadian economy, under the new NAFTA known as the USMCA, it’s really not a good thing for us anymore. If the Canadian dollar declines Canada is going o get hit with real inflation caused by the cost of importing goods rising. Making matters worse is Trudeau’s carbon tax will be kicking in on Apri 1st.
As I’ve stated in the past, I’m really not sure, what to make of the upcoming economic decline that will be coming to Canada. But Trudeau’s supporters are going to realize the cost of going green really soon. What’s worse will be the delivery of services. As cost go up, don’t expect wages to go up also, because the Private sector in this country that needs to import will be paying more for less and these costs will definitely be passed onto consumers.
Interesting times ahead!