Wednesday, 13 December, 2017

Facing tougher regulations, TransCanada scraps $12 billion oil pipeline

Energy East pipeline TransCanada announced on Thursday that it will cancel the Energy East pipeline project
Erik Tate | 06 October, 2017, 00:38

TransCanada (TRP.TO) said it is terminating plans for the Energy East pipeline "after careful review of changed circumstances".

"Given the potential benefits of this project for our nation, we believe the reasons for its demise should be carefully examined and discussed in an effort to protect and ensure a strong and secure Canadian economy in the future", he said.

The largest pipeline proposal in Canadian history met a bitter end this week, leaving behind a trail of delighted environmentalists, deeply disappointed industry stakeholders, and carefully measured government responses. 7 for 30 days on the $15.7-billion route that would carry Alberta oilsands product from Hardisty to Saint John.

The review process is over, but several legal challenges to the pipeline - including over whether the environmental review adequately considered climate impacts - have tied the project up in the courts.

Some industry analysts have questioned the need for the Energy East project after TransCanada's 830,000-bpd Keystone XL project received U.S. approval to transport oil from Alberta to the U.S. Gulf Coast and Kinder Morgan won federal approval of its Trans Mountain pipeline project to almost triple the capacity of the 1,150-kilometre line running from Edmonton to Burnaby, B.C.to 890,000 bpd.

Opponents said the projects would increase greenhouse gas emissions by allowing oil-sands producers, the most greenhouse-gas intensive sources of crude, to ramp up production. The company first proposed the project in 2013, when oil prices were approaching 100 dollars per barrel. TransCanada warned then that the project could ultimately be cancelled.

Energy East was up for its second NEB review, after the first stalled a year ago amid protests by environmentalists and after revelations that regulatory panel members met privately with a TransCanada consultant.

Morata joined Chelsea because of Conte's belief in him
Don't forget, every coach tries every day to take more information, new ideas, and then try to elaborate with your style, no? It's important to understand when there is the room to travel, to go to see a game or for other situations.

Alberta Premier Rachel Notley says her government has always supported Energy East because of the new jobs, investments and markets it would create. That pipeline, however, is now locked up in lawsuits, and the B.C. government is intervening in challenges to its approval.

The Quebec government soiught an injunction against the Energy East pipeline project in March of 2016. The same logic that killed Energy East should help kill Keystone XL.

September 9, 2016: The National Energy Board sidelines all three Energy East reviewers following complaints that two of them met privately with a TransCanada consultant the year before and discussed the proposed oil pipeline.

But environmental groups questioned the need for a pipeline they said was at odds with Canada's commitment to tackle climate change.

"Make no mistake, other companies' decisions to invest in Canada will be informed by this debacle".

"In a world where the oil sands were growing and the price of oil was really high, it didn't really matter that that pipeline was a little pricier to ship on, because it was still a lucrative proposition", he said.

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