Canada’s excessively long regulatory process led to cancellation of Teck Resources’ Frontier oil sands project, the CEO of rival Husky Energy said on Thursday.
Teck on Sunday canceled the C$20.6-billion proposal, saying it was stuck in an unresolved Canadian debate about energy growth and environmental concerns.
Regulatory reviews should not exceed five years, Husky CEO Rob Peabody said on a quarterly call. Frontier was reviewed for nine years.