Northern Gateway pipeline approved

[valve37]

Needed to maintain and secure Canada's long term prosperity. However the NDP and Liberals both said they would reverse the approval. Same is likely if Obama approves Keystone. Guess the two leaders don't care if the standard of living suffers for Canadians. But then why should they perched in their "high on the hog" salaries and pensions.    

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Enbridge Inc. chief executive Al Monaco said the company would take the next 12 to 15 months to work through the 200-plus approval conditions attached to Northern Gateway, but he said the company would not make an “indefinite commitment” to the $7.9-billion oil pipeline.

“We have a sanctioning decision to make,” he told reporters Tuesday. “That sanctioning decision is not happening today, and that’s because we need to undertake a few more steps here … as we move through that we’ll be continually evaluating where we are on the project. At some point, when we get satisfied one way or the other, then we’ll make that call.”

Enbridge has said the project could be up and running by late 2018. Mr. Monaco said it could get pushed back depending on negotiations with aboriginal groups and the B.C. government.

The federal government on Tuesday accepted last year’s recommendation from the National Energy Board to approve the project subject to 209 conditions, moving Alberta’s landlocked oil producers a step closer to tapping energy demand in fast-growing Pacific markets.

Gateway would transport up to 525,000 barrels of light and heavy crude from Alberta’s oil sands to a new super-tanker port at Kitimat, B.C., allowing Canada’s oil industry to bypass the U.S. Midwest, which is increasingly flush with shale oil. A twinned line would import 193,000 barrels a day of oil-thinning condensate.

Since it was first proposed more than a decade ago, the $7.9-billion project has generated reams of regulatory filings, sparked protests from aboriginal and environmental groups, and driven a wedge between governments in Alberta and B.C.

But the contentious oil pipeline is just one of $36-billion in growth projects Enbridge considers commercially secure through 2017. Another $5-billion worth of projects is still in development, the company says.

Some analysts say Gateway by itself — whether it’s built or delayed indefinitely — is unlikely to move the needle on Enbridge’s outlook. The company is targeting earnings per share growth of 10% to 12% through 2017.

http://business.financialpost.com/2014/06/17/northern-gateway-oil-pipeline-approved-tuesday/?__lsa=9...

[pierrelebel]

"Needed to maintain and secure Canada's long term prosperity."

That is basically correct.  A long-term method of safe transportation allowing the export of our oil sands from Northern Alberta and Saskatchewan will help all Canadians for decades.

Many questions however remain.

For example: why not go all the way to Prince Rupert and minimize the risks of substantial damages to the environment?

How much will be paid to British Columbia for letting oil go through the province?

How much will be paid to the many aboriginal nations where the pipeline is scheduled to go?

Should we export oil sands? or refine them and get the extra value, using Canadian facilities, Canadian labour?

etc... etc...

[brandeentertainment]

Should we export oil sands? or refine them and get the extra value, using Canadian facilities, Canadian labour?

This is the one I think should be done for sure .... More jobs for us and they still get the oil

[pierrelebel]

"This is the one I think should be done for sure .."

It makes sense to me.  Unfortunately, that is not what the federal government just approved.

[valve37]

Who's Behind BC's New $10-Billion Refinery Bid?

http://thetyee.ca/News/2014/06/11/Who-is-Behind-New-Oil-Refinery-Bid/

New refineries are just as controversial as pipe lines. Not in my backyard!

[pierrelebel]

What is your opinion valve?  Should we refine and transform the oil before we export or not?

[pierrelebel]

"Pacific Future Energy's proposal, like B.C. newspaper baron David Black's 2012-hatched Kitimat Clean, relies on both approval and construction of the contentious Enbridge Northern Gateway pipeline."

I think these guys are wasting their time and energy. Their political ties will not help them.  Kitimat is the wrong location for a refinery for a wide variety of reasons.

[prior-of-verity*shake-hands-with-your-devil]

I hope they make the existence of the pipeline as miserable as possible for as long as it takes.

[valve37]

Two things here Pierre. Refining will create a lot of new jobs and refined oil is the lessor of two evils should a tanker spill happen.  

[valve37]

You'd rather have it go by rail through the rockies as it does now to the US?

[disisus]

I'm torn on this. Enbridge has the worst reputation imaginable. It's almost if it's not "if" an accident will happen but "when" it will.

They've had 804 spills ( that the company admitted to ) between 1999-2010. That's in 11 years. Or 73 spills per year.

All it takes is one big spill to destroy a huge area of our country forever.

It's all about money of course. Since I haven't studied this, who is going to benefit from this? How much to Gov'ts ( Federal, Provincial or Municipal ) and how much to private owners or share holders? This would make all the difference in whether it's worth the risk. If the only one's gaining financially is shareholders and the only one's carrying the risk is the general taxpayer then I cry foul.

From what I've heard the Gov't of B.C. is NOT being compensated for the risk.

[valve37]

Economic benefits

http://www.gatewayfacts.ca/benefits/economic-benefits/

[disisus]

Thanks for the link to the economic benefits of the Gateway pipeline Valve.

A website by Janet Holder.

Ms. Janet A. Holder served as an Executive Vice President of Western Access at Enbridge Inc. and Enbridge Gas Distribution Inc., since September 2011. Ms. Holder had been responsible for the overall leadership of the Northern Gateway Pipelines Project, providing oversight in advancing the project. She served as the President of Enbridge Gas Distribution Inc., since January 9, 2008.

[disisus]

Please post a link to someone/entity  that is not paid to advance and promote the project.

[disisus]

If you search in Google on Northern Gateway benefits or Benefits for B.C.northern Gateway or economic Benefits Northern Gateway or  Benefits to B.C. Northern Gateway Pipelines or Northern Gateway Pipeline Project or Northern Gateway economic opportunity, etc. you will be re-directed to Gatewayfacts.ca which is run by Jane Holder, the person paid to advance this project.

[disisus]

Who benefits most from Northern Gateway?

Most of the benefits of the Northern Gateway pipeline go to the oil producers in Alberta that make use of the pipeline. The government of Alberta also gains through increased royalties. While there are some jobs created during the construction of the pipeline, long-term job gains will not be substantial. British Columbia’s economic benefits will be significantly smaller than those in Alberta.

http://news.ubc.ca/2014/06/17/whats-next-for-northern-gateway/

[disisus]

http://news.ubc.ca/2014/06/17/whats-next-for-northern-gateway/

Not sure on the validity of this report but it basically says that you won't benefit at all. It says that Enbridge is assuming that the price of oil will increase by $2-$3. per barrel every year for the next 30 years. It's not assuming that Canadian oil production will increase, only that it will be re-directed to more lucrative markets. Canadians will also pay the higher prices by having it re-directed. The winners will be the oil companies.

It also says that other countries recognize the opportunities to take our oil and refine it. Which we are not willing to do. Our oil will feed their refineries and in exchange, we, the public tax payer, will pay for it at the pump. We will experience an oil price shock that will affect the standard of living for all Canadians , and not for the good.

[valve37]

So you don't see the increase in royalities off more oil sands extraction a benefit to all Canadians? Buy the Enbridge stock then.  

[prior-of-verity*shake-hands-with-your-devil]

There is only one way to fight power, greed, the wealthy, the political puppets and that's with a different power.

[disisus]

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@valve37 wrote:

So you don't see the increase in royalities off more oil sands extraction a benefit to all Canadians? Buy the Enbridge stock then.  

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So who is getting these royalties? The Alberta Gov't I assume. Will my Federal taxes go down? Will they offer more for Health Care or other social services? How will I personally benefit?

I know they say it's for the public good, but how does that benefit me? I'm the public.

I have no doubt it will benefit someone but if the only way I'll benefit is by buying Enbridge stock, then it's not exactly a benefit to Canadians in general is it? And if the prices at the pump do go up it's actually going to cost Canadians in general.

Isn't that more of the rich get richer and the poor get poorer scenario?