• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Stalled pipeline projects costing Canada’s oil companies $30-$70 million each day: Report

February 7, 201312:50 PM BOE Report Staff

pipeline-horseCP

 

CALGARY – A new report says the inability to get oilsands crude to the right markets is costing the Canadian economy dearly.

The Canada West Foundation says each stalled pipeline project means a loss of between $30 million and $70 million every day.

Senior economist Michael Holden says if pipeline projects such as Keystone XL, Trans Mountain and Northern Gateway don’t go ahead, Canada would miss out on $1.3 trillion in economic output between now and 2035.

The report was paid for by the Saskatchewan government, which strongly supports projects such as Keystone XL, a long-delayed TransCanada Corp. (TSX:TRP) proposal to connect Alberta crude to the U.S. Gulf Coast.

The think-tank says most of Canada’s export pipelines currently connect to the U.S. Midwest, but pipeline access to the Eastern Seaboard, the Gulf Coast and Asia are more important in today’s market.

The report calls on provinces to work together to tackle the problem, the way Alberta Premier Alison Redford and New Brunswick Premier David Alward did earlier this week in touting an eastbound oil pipeline.

Keystone XL Northern Gateway

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Canada’s weekly rig count drops 8 to 177
  • PSAC statement on Alberta Budget 2021
  • U.S. drillers add rigs for 7th month in a row, pace slows
  • Crude-by-rail exports are rebounding after a drastic drop in 2020 due to COVID and other factors
  • TC Energy and TC PipeLines, LP announce unitholder approval and effective date of merger

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.