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View Full Version : Energy East Pipeline Cancelled!!!


mattsmith48
October 5th, 2017, 02:01 PM
Great news for all Canadians this project is finally dead, now if people could realize that Trudeau or the Liberal party had nothing to do with this and in fact got this project much closer to actually happening than Prime Minister Shit For Brain before him, that would be great. Our economy is mostly based on a dying industry and it would be nice if could move away from that.

TransCanada says it won't proceed with its Energy East pipeline and Eastern Mainline proposals.

Russ Girling, the Calgary-based energy company's chief executive officer, said in a statement that National Energy Board and Quebec officials will be informed TransCanada won't go forward with the applications.

The proposed Energy East project would have carried more than one million barrels of oil every day from Alberta and Saskatchewan across the country to be refined or exported from facilities in New Brunswick and Quebec.

It would have added 1,500 kilometres worth of new oil pipelines to an existing network of more than 3,000 kilometres, which would have been converted from carrying natural gas, to carrying oil.

The company says it will take a $1-billion charge to write down the project on its books in its next quarterly results. But the full price tag for the project would have been much higher, with most recent projections tabbing it at almost $16 billion.​

The company first proposed the project in 2013, when oil prices neared $100 a barrel. But the project's future had come in doubt since then as the economics changed, and regulatory and environmental hurdles started piling up.

Numerous Indigenous groups located along the pipeline's proposed route were against the plan, and many felt vindicated on Thursday.

"Both the Northern Gateway fight and this Energy East one show that when First Nations stand together, supported by non-Indigenous allies, we win," said Grand Chief Serge Simon of the Mohawk Council of Kanesatake.
While opponents to the project were claiming victory, the government said the move was one the company opted to make for itself, with Natural Resources Minister Jim Carr calling the cancellation a business decision.

"Conditions have changed," Carr said. "Commodity prices are not what they were then."

As recently as last month, TransCanada suspended its application to the National Energy Board (NEB) and hinted it might decide not to pursue the project in light of the regulator's new, tougher review process


http://www.cbc.ca/beta/news/business/transcanada-energy-east-1.4338227

NewLeafsFan
October 7th, 2017, 01:45 AM
You can't just move away from ur economy. It has to be replaced by something.

mattsmith48
October 7th, 2017, 11:26 AM
You can't just move away from ur economy. It has to be replaced by something.

Thats why we need to move away from it now and not wait until we run out or that we are in another recession caused by low oil prices because the rest of the world is using renewable energy.

NewLeafsFan
October 8th, 2017, 02:02 AM
Thats why we need to move away from it now and not wait until we run out or that we are in another recession caused by low oil prices because the rest of the world is using renewable energy.

That's a very good point. Our economy in Canada is the best its been in a very long time. Do you have any suggestions about what those in the oil businesses do instead?

mattsmith48
October 8th, 2017, 11:59 AM
That's a very good point. Our economy in Canada is the best its been in a very long time. Do you have any suggestions about what those in the oil businesses do instead?

Renewable energy is a gold mine for job creation, a lot more than the oil industry, so we could offer retraining to the oil workers either for those new jobs or if they want to do something completely different. The best part is as oppose to oil where jobs are only in a few places, the Sun is available all across the country, so workers here in the maritimes wouldn't have to leave their family behind for months of times to go work in shithole, Alberta.