IT&Software

Oil Change International Reacts to the Cancellation of Energy East

Oil Change International Reacts to the Cancellation of Energy East

A map shows the proposed route of TransCanada's Energy East pipeline.

TransCanada said Thursday it would not proceed with the project, which was unveiled in 2013 and would have carried daily an estimated 1.1 million barrels of western crude to refineries in eastern Canada and a port terminal in New Brunswick.

The Calgary-based company (TSX:TRP) had announced last month that it was suspending its efforts to get regulatory approvals for the mega projects.

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.

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.

Realizing that Energy East would never be allowed if its full climate impact was accounted for, TransCanada has walked away from the project.

New Brunswick Premier Brian Gallant also said Energy East would have been good for his province's economy and generated future revenue for his government.

January 27, 2017: The new National Energy Board panel tasked with reviewing the Energy East pipeline decides to throw out all of the decisions made by the previous panel.

Alberta premier Rachel Notley also lamented its demise, while opponents in Quebec rejoiced and praised citizen groups that played a key role in the fight against the pipeline.

More news: Sir Edward Heath abuse claims
More news: Office Depot plunges as tech deal fails to soothe investors
More news: Secretary of State Tillerson vows to stay on amid tensions with Trump

But the company in recent years has dealt with a fall in the price of crude oil, which is now hovering around $50 a barrel, down from almost $100 a barrel in mid-2014.

TransCanada Chief Executive Officer Russ Girling said in a statement that "after careful review of changed circumstances, we will be informing the National Energy Board" it won't go ahead with the Energy East pipeline.

Notley said although the decision was driven by a broad range of factors, it was an "unfortunate outcome for Canadians".

Energy East would have given oil producers in Alberta and Saskatchewan, who are heavily dependent on buyers in the USA, another market for their crude by carrying about 1.1 million barrels a day to refineries and a marine-shipping terminal in eastern Canada.

Of the cancellation, Green Party leader Elizabeth May added: "Today's announcement from TransCanada to cancel plans for the Energy East pipeline will be celebrated by many Canadians - those who understand that transporting toxic diluted bitumen (dilbit) across pristine areas, and that exporting bitumen to offshore refineries, is a poor business model".

TransCanada is announcing that it has ended its Energy East Pipeline proposal that would have seen bitumen transported through existing natural gas pipelines.

Gallant said he believes the project's decision was due to recent changes to world market conditions and the negative impact of lower oil prices.

But Adam Scott, a senior adviser at the environmental group Oil Change International, had a different interpretation.

"I'm not surprised but I was certainly disappointed", McLellan continued, adding that the pipeline project would have brought "hundreds of millions of dollars" in direct and indirect economic benefits to Saskatchewan over its lifetime.


  • John Stones insists England must emulate Man City

    John Stones insists England must emulate Man City

    We have to keep making steps forward and keep progressing and trying to do our best for ourselves, our families and the nation". They won the league last season. 'There is definitely an argument that Sergio Aguero is the Premier League's best-ever striker.
    Mom gets jail over refusal to vaccinate son

    Mom gets jail over refusal to vaccinate son

    Rebecca Bredow refused to let her nine-year-old be immunised after initially agreeing with the father to do so. And the record, I urge you to review it and what you just said, that he has a newfound objection is not true.
    Police Probe Whether Vegas Shooter Eyed Space Near Earlier Festival

    Police Probe Whether Vegas Shooter Eyed Space Near Earlier Festival

    Law enforcement sources told the Daily Beast that the shooter had rented multiple condos overlooking Life is Beautiful's grounds. That festival ran from September 22 to September 24, just days before the October 1 attack on the Route 91 Harvest festival.
  • United Kingdom  says it is preparing for 'no deal' Brexit

    United Kingdom says it is preparing for 'no deal' Brexit

    MEPs have voted to block Brexit negotiations moving to the next phase on the UK's future relationship with the EU. These are the people who will pick the next party leader - and they are overwhelmingly pro-Brexit.
    Mark Cuban Seriously Considering 2020 Run

    Mark Cuban Seriously Considering 2020 Run

    In the NBA, there's a rule that requires players to stand during the anthem, and those who don't will be fined by the association. That's a rather detailed corporate tax idea for someone who is 90% sure he won't run for president in three years' time.
    Electric milestone revealed by Land Rover

    Electric milestone revealed by Land Rover

    The highlight of a refreshed Range Rover Sport line-up, the new P400e, is a Range Rover like no other since the first in 1970. The P400e combines a 296bhp 2.0-litre four-cylinder Ingenium petrol unit with a 114bhp electric motor.
  • Miley Cyrus admits she spies on fiancĂ© Liam Hemsworth

    Miley Cyrus admits she spies on fiancé Liam Hemsworth

    But while she's secure in her relationship, Cyrus does get a little anxious when her beau is off filming with attractive co-stars. She explained: "I didn't know [we'd get back together]".
    Spanish king to address nation as protests grow

    Spanish king to address nation as protests grow

    Analysts, however, are less optimistic saying Madrid will likely suspend the government or the autonomy of the Catalan state. She said that Rajoy's strategy of using justice and police means to thwart the poll rather than dialogue has failed.
    Obama interrupts Michelle's interview to celebrate 25th marriage anniversary

    Obama interrupts Michelle's interview to celebrate 25th marriage anniversary

    Obama also recalled what it meant to have a commander in chief "who upholds and respects the office" of the presidency. You don't get to have the same kind of interaction and, therefore, there are some parts of you that do lose touch.
  • "Blade Runner 2049" Continues a Cult Classic

    Their Los Angeles of 2049 is dark, moody, and full of weather (like rain and snow) foreign to the city as we know it. Yet the original film ended with so many ambiguities that it has been fairly crying out for a follow-up.
    Afghanistan Pullout Would Be 'To Our Ultimate Peril': Mattis

    Afghanistan Pullout Would Be 'To Our Ultimate Peril': Mattis

    On the other hand, US Defence Secretary James Mattis said that Pakistani Intelligence seems to be running its own policy. Both officials were testifying at the US Senate Armed Services Committee on the US's strategy in Afghanistan+.
    Hurricane Recovery Boosts Auto Sales

    Hurricane Recovery Boosts Auto Sales

    Toyota Motor Corp. sales rose 15 percent, with deliveries rising 17 percent at the Toyota brand and 1.5 percent at Lexus . The Honda division, up 7.4 percent, drove a 6.8 percent increase at American Honda, with Acura advancing 1 percent.