Friday, 20 October, 2017

Quebec, Montreal officials applaud Energy East pipeline cancellation

TransCanada pulls plug on Energy East pipeline. TransCanada spikes Energy East
Earnest Maxwell | 06 October, 2017, 00:22

Conservative MP Lisa Raitt blamed Prime Minister Justin Trudeau's tightening of regulations related to energy projects, calling them "onerous" and saying they created an uneven playing field with foreign oil companies.

But as prices tumbled and regulatory hurdles aimed at protecting the environment multiplied, the business case for Energy East became weaker.

With that avenue closed off, Western Canada's oil industry is now counting on Trans Mountain project to help carry crude to the Pacific Coast, where it would be shipped to markets in Asia, as well as TransCanada's long-delayed Keystone XL pipeline, which would move more Alberta oil to refineries along the U.S. Gulf Coast.

He added that TransCanada will also withdraw from a Quebec environmental review.

"The National Energy Board needs to send a clear message on what the future of project reviews look like in Canada", she said.

The project has opened deep rifts in political circles, with New Brunswick and Alberta premiers expressing disappointment Thursday and Quebec politicians like Montreal Mayor Denis Coderre celebrating its demise.

In a statement, TransCanada would only say "changed circumstances" led to the decision to kill Energy East.

"This is evidence of how a lack of clarity and an unclear decision-making process regarding pipeline projects in Canada are challenging the energy sector's ability to be competitive in the world market", the organization said in a release. Named one of Canada's Top 100 Employers in 2017, Irving Oil operates Canada's largest refinery, in Saint John, New Brunswick, which is located 65 miles north of the U.S. border and has reached production rates in excess of 320,000 barrels per day. It says it will for the first time consider the public interest impact of upstream and downstream GHG emissions from potential increased production and consumption of oil resulting from the project.

". It is important to say today that, while we wanted to see the pipeline built, it is not the only opportunity our government has been pursuing to grow our economy", he said.

"We still believe that", Gallant said.

TransCanada President and Chief Executive Officer Russ Girling said in a statement that the company will inform the National Energy Board of its decision.

August 19, 2015: TransCanada says concerns raised about Energy East in a report about the potential impact of the project on whales and some fisheries in the Bay of Fundy are unfounded.

The Calgary-based company said previously that it was suspending its efforts to get regulatory approvals for the mega projects.

The Trans Mountain approval happens to be under a legal microscope this week as Indigenous and environmental groups and British Columbia cities argue the process failed to take into account the impact the pipeline could have on everything from killer whales to waterways. His government has been trying to balance the oil industry's desire to tap new markets with environmentalists' concerns.

Environmental groups welcomed the decision to scrap a pipeline they said was at odds with Canada's commitment to reducing greenhouse gas emissions.

He says the project was never properly explained to Quebecers.

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