Teck Resources Ord Shs Class A T.TECK.A

RE:Keystone Pipeline Approved

[VOKBLVR]

This pipeline if it gets built in a timely manner will reduce the cost of transport of Canadian oil to the US refineries on the Gulf of Mexico. The refineries will purchase feedstock at the lowest possible price and if Canadian oil is cheaper than Venuzuelan oil -guess what will be bought. In order to sell oil sands crude at present-it has to be discounted. The discount will be reduced by the lower transportation costs which will make money for the producers. It is instructive to note that the largest producer of Canadian oil sands crude is Suncor, a US corporation.. Teck will benefit as will CNRL by having an econmically favorable outlet for their product, and when the Transmountain expansion is completed there might actually be some competition for the heavy oil as once it is in a tanker it can go anywhere for less unit cost than by any other alternate transportation method. All in all it is good for Teck to see this project move forward.