'They can't continue to deny us': Northern leaders react to Teck Frontier's project withdrawal - CBC.ca | Canada News Media
Connect with us

Business

'They can't continue to deny us': Northern leaders react to Teck Frontier's project withdrawal – CBC.ca

Published

 on


Northern leaders are responding to the decision from Vancouver-based Teck Resources Ltd. to withdraw its application for its Frontier oilsands mine project south of Fort Chipewyan, Alta.

The federal government was slated to make a decision this week on whether to approve the $20-billion, 260,000-barrel-per-day Frontier project.

On Sunday, Teck Resources cited the ongoing debate over climate policy in Canada as among factors for its decision to halt the approval process. The company did not explain what economic benefits would have been brought to the N.W.T., or if the decision to withdraw was influenced by opposition from the South Slave region.

Smith’s Landing First Nation Chief Gerry Cheezie, who is among the leaders in the Northwest Territories who showed opposition to the project, said he was happy to hear the news.

Cheezie previously said his community wasn’t consulted, and that contaminants from the mine could enter the water supply and N.W.T. communities would feel the downstream effects of the mine. He wanted the N.W.T. government to step in.

If you can’t attract investment capital into Alberta, the chances are less so for the North.– Doug Matthews, Energy analyst

“Government and industry … have got to understand that we have rights — legal rights — that have been fought for and won in the Supreme Court,” he said.

He said he cancelled the rally planned for Tuesday outside the Legislative Assembly. Instead, Cheezie said he plans to write a letter to the N.W.T. premier and cabinet and request a meeting to discuss how to deal with these kind of projects with Indigenous governments.

Teck’s Frontier oilsands project was planned for northern Alberta. The company pulled its application for the project on Sunday. (CBC News)

He said this fight, along with other Indigenous leaders opposing projects on their land, is the “start of a new era.” 

“Indigenous governments are giving the signal to government that they can’t continue to deny us and ignore us, or these things will continue to happen until our grievances are being settled,” Cheezie said, pointing at the rail blockades sparked by arrests of protestors on Wetʼsuwetʼen First Nation territory earlier this month.

In a statement, Dene National Chief Norman Yakeleya commended Teck’s decision, calling the Frontier project a “lightning rod for all the concerns about the health of the Mackenzie River Basin.”

Yakeleya added that despite Teck’s withdrawal, water management and protection remains an ongoing concern for
Indigenous people.

“This is no time to get complacent,” Yakeleya’s statement reads in part.

‘People still have to put food on the table’

Chief April Martel of K’atl’odeeche First Nation near Hay River, N.W.T., who supported Cheezie, said she was pleased to hear the process was halted but thinks northern leaders have to create a plan to participate in the regulatory process in the future. 

“We’re very excited that the process has stopped,” she said. “You need to be, you know, 10 steps ahead of them.”

“Get all your ducks in a row. Get everything checked, you know, make sure you have a plan in place right now … With everything that’s going on, it might move forward again.”

N.W.T. MLA Frieda Martselos said she thinks there needs to be stronger federal leadership. (Mario De Ciccio/Radio-Canada)

N.W.T. MLA for Thebacha, Frieda Martselos, the former chief of Salt River First Nation, said the decision bodes poorly for the Canadian economy. 

“When major projects are withdrawn, it has bearing on the economy,” Martselos said.

She said a move like this affects the “little guys more than the big guys.”

“The way things are going in Canada, we’re not going to have [an] economy. Nobody’s going to want to come to invest here,” she said. “That’s kind of scary because people still have to put food on the table.”

Martselos said she thinks there needs to be stronger federal leadership. 

Damaging to potential investments

Doug Matthews, an energy analyst who has spent much of his career in the energy sector with the N.W.T. government, said it’s not surprising that the company “pulled the plug” — since the company has indicated in the past that the project may not be economical.

Given the federal government’s looming decision, Matthews said the move may have been a strategy for the company to take control of either a potentially damaging federal refusal to approve the project, or an approval that could potentially be later plagued by lawsuits.

When it comes to what it means for future investments for northern Canada or the country as a whole, Matthews said that it it could be bad news.

“We’ve shown as a country we just can’t get a project done — whether it’s a pipeline, whether in this case it’s a mine, it’s just not possible. That means investment dollars will not be flowing into the country and that’s a problem,” he said.

It could be even more difficult for companies in the territories, he added.

Teck Resources has withdrawn the application for its new Frontier oilsands mine. The federal government was supposed to decide on the $20-billion project this week.  2:42

“If you can’t attract investment capital into Alberta, the chances are less so for the North,” he said.

Matthews said the situation could be an opportunity for industry and environmentalists to come to terms with the other.

“The development industry, the resource industry need to get with the program in terms of environmental damage,” he said.

“At the same time environmentalists have to get with the program that wind power does not generate resource revenues.”

Let’s block ads! (Why?)



Source link

Business

Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

Published

 on

 

Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Published

 on

Product Name: All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Click here to get All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Business

Turn Your Wife Into Your Personal Sex Kitten

Published

 on

Product Name: Turn Your Wife Into Your Personal Sex Kitten

Click here to get Turn Your Wife Into Your Personal Sex Kitten at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

Turn Your Wife Into Your Personal Sex Kitten is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Trending

Exit mobile version