• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 4 hours Why Wind is pitiful for most regions on earth
  • 4 hours Is OilPrice a cover for Green Propganda
  • 1 hour During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 1 hour Sources confirm Trump to sign two new Executive orders.
  • 14 hours In a Nutshell...
  • 1 day Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 2 days Happy 4th of July!
  • 2 days Putin Paid Militants to Kill US Troops
  • 2 days Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 3 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 3 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 6 hours Coronavirus hype biggest political hoax in history
  • 2 days Apology Accepted!
Gulf Oil Producer Oman Is Quickly Running Out Of Options

Gulf Oil Producer Oman Is Quickly Running Out Of Options

Oman’s high breakeven price per…

A Look At Europe’s Ambitious $140 Billion Hydrogen Plan

A Look At Europe’s Ambitious $140 Billion Hydrogen Plan

Europe’s $1 trillion Green Deal…

Canada Government Set to Approve Trans Mountain Expansion

The federal government of Canada is set to approve the highly controversial Trans Mountain pipeline expansion project this week, unnamed sources have told Reuters.

The project, which would boost the current capacity of the Trans Mountain pipeline from Alberta to the coast of British Columbia three times, to 890,000 bpd, pitted against each other Canada’s oil heartland Alberta and neighbor B.C. whose government is strongly opposed to new oil projects.

Ottawa bought Trans Mountain Pipeline (TMP), the Trans Mountain Expansion Project (TMEP), and related assets for US$3.35 billion (C$4.4 billion) from Kinder Morgan, which was beginning to get exasperated with all the delays B.C. was putting in its way. The deal was pretty much as controversial as the project with certain groups, namely environmentalists, the British Columbian government and some First Nations. Other First Nations, however, continue to staunchly defend the project and its benefits for Alberta and even have plans to buy into it when Ottawa puts it up for sale, as was the original idea.

Trans Mountain was the only new oil pipeline project the Liberal government of Justin Trudeau has approved, using the argument that Alberta’s rising oil production needs a bigger outlet to international markets. However, this support and the purchase of the project are unlikely to do the government any favors in the upcoming parliamentary vote later this year.

As Reuters notes, Trudeau came to power on the environmental wave, and with the exception of the Trans Mountain affair, he has been generally consistent in this respect. Now, if the government indeed approves the project, the energy lobby will be happy--but an important group of voters will not be: the green lobby.

Unfortunately, Trudeau does not have a winning move: if the government for some reason rejects the project, the energy lobby would be alienated. If the election results in Alberta are any indication of popular sentiment, this decision could contribute to the Liberals losing the election in October.

By Irina Slav for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News