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Another major project bites the dust

Red and white no entry roadblock on a small asphalt country road

New Canadian think tank SecondStreet.org updated its list of stalled or cancelled major natural resource projects today following the Supreme Court’s rejection of an appeal for the proposed $1.5 billion New Prosperity Mine in British Columbia.

SecondStreet.org has calculated that the total cost of stalled or cancelled major natural resource projects since 2014 has reached $214.94 billion. For perspective, that’s roughly equivalent to building 1.1 NHL-sized arenas every single day for a year.

“Canada has become a country of roadblocks and ultimately that’s costing workers thousands of job opportunities and governments billions of dollars in revenues,” said SecondStreet.org President Colin Craig. “Everyone knows lots of workers are involved in building an NHL arena. Well imagine all the workers that would be involved in building an NHL arena every single day for a year. That’s the magnitude of what we’re missing out on in our natural resource sector.”

Stalled or cancelled projects since 2014, for which government actions/policies played a part, include:

Project

Cost (Billion $)

Ajax Copper Mine (BC)

$1.50

Aspen Oil Sands Project (AB)

$2.60

Black Thor Project (ON)

$4.40

Carmon Creek Oilsands (AB)

$3.00

Coffee Gold Project (YT)

$0.40

Dunkirk SAGD (AB)

$2.40

Eagle’s Nest Project (ON)

$0.40

Energy East Pipeline (AB-NB)

$15.70

Frederick Brook Shale (NB)

N/A

Grassy Point LNG (BC)

$10.00

Green Point – Shoal Point Energy (NL)

N/A

Joslyn Oil Sands Project (AB)

$11.00

Mackenzie Valley Pipeline Project (NT)

$16.10

Matoush Uranium Project (QC)

$0.34

Muskwa SAGD Project (AB)

$0.80

New Prosperity Mine (BC)

$1.50

Northern Gateway Pipeline (BC-AB)

$7.90

Pacific Northwest LNG (BC)

$36.00

Prince Rupert LNG Aurora – Nexen (BC)

$28.00

Steelhead LNG (BC)

$18.00

Teck Frontier Oilsands Mine (AB)

$20.60

Trans-Mountain Pipeline Expansion (BC-AB)

$9.30

WCC LNG (BC)

$25.00

 

$214.94

 

This list is an update to the data compiled for SecondStreet.org’s 2019 policy brief on this topic. To see the policy brief – click here.

 

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