It’s time for a Trudeau to do right by the energy patch – Financial Post

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It’s time for a Trudeau to do right by the energy patch – Financial Post

by pmnationtalk on December 2, 2015264 Views

December 1, 2015

A day after Royal Dutch Shell PLC took the extreme step of cancelling its Carmon Creek oilsands project in Northern Alberta in mid-construction, taking a $2-billion impairment charge and citing a lack of pipeline capacity to carry its product to market, Peace River mayor Tom Tarpey issued a statement to express his grief. “My first thought was concern for those who have literally poured their hearts and souls into making this project a reality,” he said on Oct. 28, urging higher levels of government to make pipelines a priority to support northern communities.

Carmon Creek, a large in-situ oilsands plant that would have used the latest environmental technology and involved 1,000 construction jobs, is just one of many pipeline projects scuttled by vulnerable regulatory processes, disproportionate special interest group pressure and a lack of political leadership. Others include:

  • The $16.2-billion Mackenzie Valley natural-gas pipeline that received regulatory approval in 2009, but became redundant after its review dragged on for 47 months instead of 10 amid Aboriginal opposition. The cost to proponents: more than $700 million.

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