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...

[valve37]

Royalties off the oil sands are imposed by the Feds as well as by AB. Federal oil sands royalties form part of equalization payments paid yearly to have not provinces. Your province is a have not and receives 1.792B in 2013 -14. Wynne gets a boost of 3.169B. Wobder how she will deal with it? Or deal it to.

Oil sands currently affects the jobs of 112,000 people across Canada outside the province of Alberta and this is expected to grow to over 500,000 jobs over the next 25 years..

Oil sands investment indirectly affects six broad sectors. In order of size, they include professional services, oilfield services, manufacturing, wholesale trade, financial services, and transportation.

http://oilsands.alberta.ca/economicinvestment.html

Oh I was only kidding, don't buy Enbridge, div payout exceeds rev per share. Buy BCE on the dips instead.

[disisus]

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@valve37 wrote:

Royalties off the oil sands are imposed by the Feds as well as by AB. Federal oil sands royalties form part of equalization payments paid yearly to have not provinces. Your province is a have not and receives 1.792B in 2013 -14. Wynne gets a boost of 3.169B. Wobder how she will deal with it? Or deal it to.

Oil sands currently affects the jobs of 112,000 people across Canada outside the province of Alberta and this is expected to grow to over 500,000 jobs over the next 25 years..

Oil sands investment indirectly affects six broad sectors. In order of size, they include professional services, oilfield services, manufacturing, wholesale trade, financial services, and transportation.

http://oilsands.alberta.ca/economicinvestment.html

Oh I was only kidding, don't buy Enbridge, div payout exceeds rev per share. Buy BCE on the dips instead.

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Just because the Feds get more in Royalties doesn't mean we're going to get more money from them in the way of Equalization payments. 112,000 people outside Alberta out of over 30 million isn't a huge amount. The province taking the biggest risk in this is B.C. and the First Nations Communities. What is their benefit? Why should they take all the risk for the general good?

[gauge33]

Justin Trudeau killed the Northern Gateway Pipeline project. The National Energy Board had already approved it, after the most rigorous review in Canadian history. But Trudeau simply ordered his new Transport Minister to blockade any oil tanker ships along the northern B.C. coast. Funny: normally economic blockades of shipping are done by hostile foreign countries, not by your own government. But Trudeau won’t ban OPEC tankers from Canada’s east coast, that bring conflict oil from Saudi Arabia, Algeria and other regimes. Apparently those are magic tanker ships that never leak. He’s only against tankers taking Canadian oil to market. But really — is any of this a surprise? Trudeau grew up at the knee of his father Pierre who despised Alberta, and Alberta oil. And the son has never made a secret of how he feels about both. And Justin Trudeau's senior advisor, Gerald Butts, is a former anti-oil lobbyist who invented “Earth Hour”, to teach young children to embrace energy poverty, North Korea-style. Rachel Notley made the first attack on Alberta’s oil patch. Then came Barack Obama’s decision to choose Venezuelan oil over Canadian oil, by killing the Keystone XL pipeline. Now Trudeau has destroyed a $10-billion construction project. And it’s not done — all three of these job-killers are off to the Paris global warming conference, where they’ll surely unveil a new carbon tax, too. They won’t stop until the Canadian energy industry is dead — and our competitors, the Saudis, Iranians and Russians, are laughing all the way to the bank.