Holdouts may block projects for strategic reasons, hoping for a better deal.
Higher crude-by-rail rates lead to lower prices for Canadian crude.
Court rejects Trans Mountain project approval—more crude-by-rail means lost revenue for oil producers, economy
Pipelines are 2.5 times safer than rail transport.
Atlantic Canada had the highest incidence of energy poverty—20.6 per cent of households.
Trudeau government nationalizes Trans Mountain pipeline project—further proof that Canada is closed for business
In a stunning turn in an already unprecedented saga, Finance Minister Bill Morneau announced this morning that the federal government will buy the Trans Mountain pipeline project from Kinder Morgan for $4.5-billion, essentially nationalizing the project.
Kinder Morgan stopped all “non-essential spending” on the $7.4 billion project due to regulatory, legal and political barriers.
The proposed Enbridge Line 3 pipeline would carry 760,000 barrels per day from Alberta to Wisconsin.
Premier John Horgan has led B.C.’s obstruction of the pipeline project.