OIL
Canada’s oil industry has long pushed for more pipeline capacity, both to its own coasts and to the US, no receiving more interest in the wake of Trump’s tariff threats, Bloomberg said.
- Previous calls for new pipelines beyond the recent TMX expansion have been thwarted by environmental groups and indigenous communities.
- Two mothballed projects are being discussed as ripe for revival, Bloomberg said. These are the 1.1m b/d Energy East, carrying oil from western Canadian east to refineries in Ontario and Quebec, and 525k b/d Northern Gateway, moving Alberta oil to a Pacific port in British Columbia.
- Canada’s government should declare an energy emergency to streamline the regulatory process for Energy East and Northern Gateway, start building them in the coming months and complete them while Trump is still in office, Adam Waterous, founder and chairman of oil producer Strathcona said.
- Enbridge said Feb. 3 it has no plans to develop Northern Gateway and is instead focusing on increasing capacity on pipelines it already has in place.
- Even with company support, pipelines could still take years to build.
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