A federal government decision to kill Teck Resources Limited’s Frontier project would be a declaration of non-confidence in the oil sands, according to the Conservative Party’s finance critic.

“If they don’t approve this project then they are effectively saying the oil sands have no future,” Conservative member of Parliament Pierre Poilievre told BNN Bloomberg in an interview taped on Thursday. “They [would] effectively be leaving trillions of dollars buried beneath the ground.”

The $20.6-billion proposed oil sands mine - to be located near Wood Buffalo National Park, 110 kilometers north of Fort McMurray, Alta. – is still pending approval from the federal government. While a decision is expected by the end of February, the government must do so while weighing the project’s potential impact on nearby indigenous communities and the environment.

Alberta Premier Jason Kenney voiced his support for Frontier in late January, saying the feds had no reason to delay its approval. Oil patch executives also advocated for the project last week, with Suncor Energy Inc. Chief Executive Officer Mark Little saying the project’s rejection would be “a big hit on investor confidence in Canada,” and Cenovus Energy Inc. CEO Alex Pourbaix advocating for regulatory certainty, saying Teck has "done everything right" on Frontier.

Poilievre – who recently balked at entering the Conservative Party of Canada’s leadership race – said Canada needs to continue being a major oil producer to have more control over the global energy industry’s carbon footprint.

“The world is going to continue to consume a million barrels of oil per day, whether or not we shut down the oil sands,” he said. “So, where do we want it to come from? Venezuela? Russia? Saudi Arabia? Algeria? Or, do we want it to come from Canada where we have among the most advanced environmental regulations and technology in the world with which to do it.”

“Canada’s energy sector is the solution, not the problem, to our environmental problems.”