Earlier this year, Warren Buffett’s Berkshire Hathaway pulled out of a proposed liquefied natural gas (LNG) export terminal in Saguenay, Quebec. The project developer cited the “current Canadian political context” as the reason why Berkshire Hathaway bailed on them, including recent rail blockades led by hereditary chiefs of the Wet’suwet’en First Nation in British Columbia.
The rail blockades targeted an entirely separate fossil fuel project — TC Energy’s Coastal GasLink pipeline, which would cross unceded Wet’suwet’en territory. The protests rapidly spread around the country, with students, environmental groups, and other First Nations joining the rail blockades in solidarity.
While far from British Columbia, the actions spooked investors in Energie Saguenay LNG. Without Berkshire Hathaway’s promised $4 billion investment, the project has stalled.