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Trudeau responds to debate following Energy East cancellation

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World Pipelines,


On 7 October, Canadian Prime Minister Justin Trudeau accused opponents of “stoking national divisions” over TransCanada’s decision to cancel its Energy East pipeline project.

The Energy East pipeline would have transported crude oil from Alberta to terminals in New Brunswick. The company cancelled the proposed pipeline project on 5 October due to circumstantial changes.

On 7 October, Trudeau stated the following in a Facebook post: “It’s no surprise there’s been heated debate in the wake of TransCanada’s decision to step away from its Energy East pipeline proposal. If there weren’t heated debate it wouldn’t be Thanksgiving in Canada. But debate is one thing. Stoking national divisions, using a private corporation’s business move as a pretext, is another. That doesn’t help anyone. What’s more, in this case, the stoking is based on an evidently false premise.”

Trudeau cites Canada’s regulatory process as being the reason for successful major resource and energy projects. But, he believes that attributing the pipeline’s cancellation to federal regulation “ignores the obvious.”

The Canadian government has approved two major under-construction oil pipelines, with a third on the horizon. The previous government did not initiate three pipeline projects over the course of a decade.

Additionally, the market plays an important factor: the global supply of crude oil was tight when Energy East was first proposed. Since then, Alberta workers have suffered a slip in oil price, which is recently beginning to correct itself. And, while everyone is entitled to their own opinion, the TransCanada is a private company and must make business decisions based on the market.

He continues his post, explaining that there is no benefit to pitting one region or group against the other – working together is what causes success, and this requires give and take.

Trudeau concluded this post by saying: “Let’s not go backwards, simply because speaking from anger is an easy response to disappointing news.”

Read the article online at: https://www.worldpipelines.com/project-news/09102017/trudeau-responds-to-debate-following-energy-east-cancellation/


 

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