Oil Patch Grapples With TransCanada Mess

Randolph Lopez
October 6, 2017

It announced Thursday that it will no longer be proceeding with its applications for the mega project "after careful review of changed circumstances".

Canadian stocks may wobble Thursday after Transcanada walked away from its almost trans-continental pipeline.

But Adam Scott, a senior adviser at the environmental group Oil Change International, had a different interpretation. The pipeline, which drew pointed opposition in Quebec, was undergoing an environmental review in that province.

Meanwhile, Montreal Mayor Denis Coderre celebrated the Energy East announcement on Thursday, suggesting in a series of tweets that citizen groups and local politicians from the Montreal-area played a key role in putting a stop to the project.

Wall then accused the feds of being "at best, ambivalent about the project" and said they "moved the goalposts" at the last minute by asking the regulator to consider the impact of upstream greenhouse gas emissions.

Reaction across the country has been mixed.

"We believed if TransCanada continued with the process, the project would be approved".

Alberta Premier Rachel Notley says her government has always supported Energy East because of the new jobs, investments and markets it would create.

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New Brunswick Premier Brian Gallant expressed disappointment in the cancellation and said he blames the company's decision on world market conditions and the negative impact of lower oil prices. That pipeline, however, is now locked up in lawsuits, and the B.C. government is intervening in challenges to its approval.

"The message from today's cancellation of TransCanada's proposed Energy East pipeline is loud and clear: new tar sands pipelines don't make sense - economically or environmentally - in a world that is addressing climate change and moving away from fossil fuels".

Energy East would have added another 1.1 million barrels per day to that capacity.

TransCanada's decision is also a blow to the ailing economy of New Brunswick province, where the pipeline would have terminated. October 5, 2017, she called on the National Energy Board to send a "clear" message on how it intends to evaluate pipelines in the future.

Picard is a signatory to the Treaty Alliance Against Tar Sands Expansion, a coalition of 150 tribes in Canada and the United States fighting against any and all oilsands pipeline projects.

"Energy, pipeline and climate issues have been among the most highly charged political debates in Canada for several years", said Abacus chairman Bruce Anderson.

Irving Oil has worked together with TransCanada on this project since it was first announced in 2013. Speaking to reporters Thursday morning in Montreal, he said the decision was also the result of leadership from his city and other municipalities who insisted on getting reforms to the National Energy Board to ensure a fair process.

Carr shrugged off Raitt's criticism, saying there are signs of growth in the energy sector despite "market challenges" posed by sagging oil prices.

Other reports by GlobalViralNews

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