For much of the summer, the federal government will backstop construction costs by Kinder Morgan, a private firm.
Pipeline expansion project may generate $50 billion in government revenue over 20 years.
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.
Private-sector investment in factories and other structures down more than 23 per cent.
Business investment (excluding residential structures) is down nearly 20 per cent since the third quarter of 2014.
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.