Kinder Morgan stopped all “non-essential spending” on the $7.4 billion project due to regulatory, legal and political barriers.
oil and gas
Capital investment in Canada’s oil and gas sector declined by an estimated 44 per cent from 2014 to 2017.
The proposed Enbridge Line 3 pipeline would carry 760,000 barrels per day from Alberta to Wisconsin.
Cenovus recently announced it will cut production from some of its oilsand projects.
The recent move by Kinder Morgan on the Trans Mountain pipeline was a massive blow to Canada’s investment attractiveness.
Without adequate access to pipelines—the cheaper and safer mode of transportation—there has been a shift to more crude-by-rail.
Price controls led to long lineups and dry tanks at gas stations.
The federal carbon-price scheme raises Alberta’s carbon tax to $50 per tonne by 2022.
The Trump administration has significantly improved the business environment in the U.S.
Last week Kinder Morgan projected that the Trans Mountain pipeline project could be a year behind schedule.