Published: March 4th, 2016
Energy East has generated plenty of criticism. This is best exemplified by Prime Minister Justin Trudeau’s recent request for a more in-depth regulatory review. The pipeline, which would safely transport 1.1 million barrels of oil per day from Alberta to the East coast, is an obvious win for all Canadians. Below are 8 reasons why.
Energy East creates additional Canadian jobs
Canada’s economic growth has been anemic in 2015 and 2016. The thousands of jobs that building Energy East will create are all positive for our employment picture. These jobs will benefit every province, not just a select few.
Energy East minimizes environmental impacts
The alternative to transporting oil by pipeline is rail tank cars. Pipelines like Energy East protect the environment better by consuming less energy, producing fewer greenhouse gases (GHG) and demonstrating a lower spill rate than rail tank cars.
Energy East contributes federal government revenue
The Liberal government has made extensive spending promises and is projecting an even bigger deficit than it campaigned on. The billions in taxes that Energy East will generate over its life can help pull the government out of the corner it has painted itself into.
Energy East eliminates oil imports
It’s astonishing that with all our oil producing capability, eastern Canada imports about 650,000 barrels of crude oil per day from Saudi Arabia, Nigeria and Venezuela. As Energy East displaces this imported oil, it improves both our energy security and our balance of payments.
Energy East increases Canadian oil production
Energy East proposes to transport 1,100,000 barrels of crude oil per day. Producing this oil will do more to improve the economic prospects of the west than the $250 million from a fiscal stabilization program that the Liberal government has promised.
Energy East can be a catalyst for nation building
At the moment the media is full of contradictory, confusing opinions expressed by pundits, environmentalists, politicians and ordinary citizens. Energy East is a national project that can demonstrate how Canadians across the political spectrum can collaborate to achieve a great outcome for all Canadians.
Energy East isn’t asking for federal government infrastructure dollars
The federal government is promising to spend infrastructure dollars to offset economic weakness. Energy East doesn’t have its hand out looking for infrastructure dollars. Energy East is entirely funded by private capital. If the federal government is going to insist on spending these dollars, they can spend them on other infrastructure projects.
Energy East construction isn’t disruptive
Energy East is proposing to repurpose existing pipelines that are already in the ground for about 2/3 of its length. This in-place infrastructure reduces construction cost and minimizes disruption to land owners and to the environment.
Read more insightful analysis from Yogi here.