"But the hard economic reality remains the potentially biggest hurdle. Frontier’s 2011 application relied on long-term oil prices over its four-decade life of about $95 a barrel, a level global benchmarks haven’t seen since 2014. With both West Texas Intermediate and Brent crude prices in the $50-a-barrel range and the U.S.’s Permian Basin continuing to pump more oil, those prices may not return anytime soon.

“This was the last big oil sands mining project advancing in the oil sands,” said Kevin Birn, IHS Markit’s director of North American crude oil markets. “Fully new greenfield ones outside this one, I don’t think there is any.”

Analysts had generally positive reactions to Teck canceling Frontier. Morgan Stanley analyst Carlos De Alba said that despite the C$1.13-billion writedown Teck would take on the project, “it removes overhanging concerns about the company potentially making a significant investment in fossil fuel amid raising ESG focus.”

https://www.miningweekly.com/article/nail-in-the-coffin-era-of-big-oil-sands-mines-may-be-over-2020-02-25