It announced Thursday that it will no longer be proceeding with its applications for the mega project "after careful review of changed circumstances". The company said back then that it wanted to review the National Energy Board's August decision to toughen the pipeline project assessment procedure.
TransCanada said last month it could abandon the project, weeks after Canada's National Energy Board (NEB) announced a tougher review process that would take into account indirect greenhouse gas contributions among other factors. 7 for 30 days on the $15.7-billion route that would carry Alberta oilsands product from Hardisty to Saint John. October 5, 2017 amidst an unprecedented announcement from the National Energy Board that it would include upstream and downstream greenhouse gas emissions in its review of the pipeline.
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. Due to its more energy-intensive extraction, transportation, and processing requirements, bitumen is known as one of the dirtiest fuels - and a lifecycle analysis would likely prove the project to not be in Canada's best interest.
The Energy East project was expected to transport over one million barrels of crude oil a day from the provinces of Alberta and Saskatchewan to New Brunswick, on the Atlantic coast, where it would be refined and exported.
As Energy East supporters lamented the loss of jobs and revenue, Indigenous opponents, environmental activists and a number of Quebec politicians celebrated.
"It is a good thing that Mr. Coderre's hypocrisy needs no pipeline for conveyance, for it would need to be very large and could never get approved for construction", he said. Crude oil prices have slipped near $50 a barrel and other commodities are weaker as the USA dollar found its footing. You know, this thing about using the upstream emissions as part of the decision was always illogical, because that's dealt with by a whole different regulatory body. "We are going to continue to look for other export markets for energy, which would allow us to increase our generation, and we are going to keep an eye on world market conditions".
With Energy East scrapped, Western Canada's producers are now counting on Kinder Morgan Inc.'s project to carry crude to the Pacific Coast, and TransCanada's Keystone XL to connect with U.S. Gulf Coast refineries. His government has been trying to balance the oil industry's desire to tap new markets with environmentalists' concerns.
Carr shrugged off Raitt's criticism, saying there are signs of growth in the energy sector despite "market challenges" posed by sagging oil prices.
May 13, 2015: More than 60 organizations call on the National Energy Board to suspend TransCanada's application for the Energy East Pipeline.
"The abandonment of the Energy East project is a major victory for the municipal world", Coderre wrote.
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