Exxon Scraps BC LNG Project

[HiTempguy1]

https://business.financialpost.com/commodities/energy/exxon-mobil-withdraws-application-to-approve-25-billion-b-c-lng-project

*Poof* There goes another $25bil of investment dollars in Canada.

So how much has Trudeau chased out of the country so far? Must easily be closing in on $100bil.

[Maxx Mazda]

He doesn’t care. Too busy learning his alphabet and how to count to 12.

[tcon]

But muh GM plant!!11!

[Sugarphreak]

...

[Misterman]

I wonder if they're going to announce a reasoning for the withdraw? It's easy to sit here and say Trudeau fucked us again, but it seems LNG isn't a problem since people think it's "clean"(whatever the fuck that means). Shell's kitimat project is done deal, Pembinas Prince Rupert project is essentially done deal. Are they worried about what is to come with Bill C-69? Would they even be bent over by that bill, or would they be able to skate by under the current process due to their application being submitted already?

[HiTempguy1]

LNG plants still need pipelines.

[Misterman]

LNG plants still need pipelines.

Yes, and as mentioned, like we have seen already pipelines don't seem to be an issue for LNG projects.

[ExtraSlow]

Yes, and as mentioned, like we have seen already pipelines don't seem to be an issue for LNG projects.

Zero have been built, and project approvals can be pulled at any time at the whims of provincial and federal governments. Additional conditions on approvals, lawsuits and delays are all a virtual certainty.

Why would a company with opportunities around the globe subject thier investors to that kind of risk? Smart ones won't.

Worst of all, the companies that have expertise building these plants in Korea may be excluded from bidding on this work because of some kind of misguided "buy local" laws which will mean 20-50% cost increases on the massive facilities.

[Brent.ff]

Yes, and as mentioned, like we have seen already pipelines don't seem to be an issue for LNG projects.

You obviously don’t follow the BC side of things here.. look up the Unist’ot’en blockage. They have an injunction against them right now, but we’ll see if CGL ever makes it to the coast

[Misterman]

You obviously don’t follow the BC side of things here.. look up the Unist’ot’en blockage. They have an injunction against them right now, but we’ll see if CGL ever makes it to the coast

Shall see where it goes. Supreme court has ordered their barricade be removed. This project has already been through the approval process and passed. But sure, I could see this possibly being a concern for companies with future projects they are applying for.

I'm all for burning Trudeau at the stake, I just wonder if Exxon will come out and say anything specific?

[HiTempguy1]

Yes, and as mentioned, like we have seen already pipelines don't seem to be an issue for LNG projects.

As extra mentioned, it all means nothing until the pipeline is actually built. Gas or oil, a pipeline is a pipeline and will face the exact same hurdles getting through, because the issue isn't actual spills or anything, its the pipeline itself.

[dirtsniffer]

Coastal gaslink may fare better if they have be regulated by the ogc. Once it goes to the Neb it's ducked

[Brent.ff]

It is an OGC project. Blocking it now is just plain stupid, as much of the ROW has been cleared for numerous years

[ExtraSlow]

Zero have been built, and project approvals can be pulled at any time at the whims of provincial and federal governments. Additional conditions on approvals, lawsuits and delays are all a virtual certainty. well look at this. Delays and blockades and protests and a possible federal regulatory review for this supposedly easiest and only provincially regulated pipeline project.
84582
https://www.cbc.ca/news/indigenous/coastal-gaslink-pipeline-neb-review-1.4971829

[Brent.ff]

This will be pretty curious to follow, as the provinces are gonna to fight tooth and nail to keep internal pipelines under their jurisdiction.. glad to see they didn’t let Elizabeth May be an intervener

[sabad66]

well look at this. Delays and blockades and protests and a possible federal regulatory review for this supposedly easiest and only provincially regulated pipeline project.
84582
https://www.cbc.ca/news/indigenous/coastal-gaslink-pipeline-neb-review-1.4971829

so far it's going to plan... injunction was granted to force the protestors to stop blocking workers.

The national review isn't for sure but will be very interesting to watch this.