Disappointment and delight mark the death of Energy East pipeline

Disappointment and delight mark the death of Energy East pipeline

Disappointment and delight mark the death of Energy East pipeline

October 5, 2017: TransCanada announces it is no longer going ahead with the Energy East pipeline project.

TransCanada, the same company behind the controversial Keystone XL, is abandoning its proposed Energy East pipeline and Eastern Mainline projects.

June 16, 2016: The National Energy Board says it has officially started the clock on its review of Energy East.

The Canadian Energy Pipeline Association and others blamed TransCanada's decision on Ottawa's "unclear decision-making process".

In part because of its sheer length, Energy East would have likely had higher shipping costs than both the Keystone XL and Trans Mountain pipelines.

If you go with the highway analogy, there was questions of whether another 12-line highway was really needed, and also of whether motorists would have used it, given the toll prices, said Leach.

In August, the NEB announced it would expand its assessment of the project into risks associated with potential accidents and system malfunctions that could cause oil spills.

In late August, the National Energy Board - an independent regulatory agency that oversees global and inter-provincial oil and gas pipelines - announced it would consider upstream and downstream greenhouse gas emissions in determining whether the Energy East pipeline was in the national interest.

If approved, the $15.7-billion Energy East project would have have shipped up to 1.1 million barrels of oil per day, over 4,500 kilometres of pipeline between the Prairies and North Dakota to refineries and marine ports in Quebec and New Brunswick. It was first proposed in 2013.

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But the company in recent years has dealt with a fall in the price of crude oil, which is now hovering around $50 a barrel, down from almost $100 a barrel in mid-2014.

New polling released by Abacus Data in September indicates a majority of Canadians (59 per cent) are growing "more anxious about climate change and it is changing my view of how long we should use oil".

He did say, though, that the country needs to better understand why the pipeline was cancelled.

The premiers of Alberta and New Brunswick say they're disappointed by TransCanada's cancellation of the Energy East pipeline, which would have connected their two provinces. That pipeline, however, is now locked up in lawsuits, and the B.C. government is intervening in challenges to its approval.

Quebec politicians, along with Indigenous and environmental groups, welcomed the project's demise, branding it as a harbinger of the inevitable death of fossil fuels and a reminder of the need for further green energy development.

The decision, almost a month after the company halted regulatory applications for the project in the face of tough official scrutiny, is a blow to the ailing economy of the New Brunswick province and heads off a broader political row over the project.

News of the pipeline's passing was celebrated in the streets.

TransCanada's statement didn't blame either the regulatory process or low oil prices for its decision, which will result in a non-cash charge of about $1 billion in its fourth-quarter financial results.

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