Canada’s oil sands industry may have already built its last big mine.
The cancellation of Teck Resources’ Frontier project in northern Alberta — which envisaged producing more crude than OPEC member Gabon — epitomises the struggles of an industry that has already seen most foreign investors flee. It’s not clear that any other proposed mine would be able to clear the hurdles that felled Frontier in the years to come, possibly spelling the end of an era of megaprojects that transformed North America’s energy landscape by turning Canada into the top foreign crude supplier to the US.