Capital investment in Canada’s oil and natural gas in 2017 was down 44 per cent from 2014.
Truck transport costs US$20 per barrel—four times more expensive than pipelines.
Bill C-69 would add more uncertainty to Canada’s already onerous regulatory process.
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.