Economy

TransCanada terminates Energy East project

TransCanada terminates Energy East project

October 8, 2015: Environmental group Environmental Defence says the National Energy Board is rushing the process for Energy East by gathering oral traditional evidence from aboriginal bands before it has received a complete application. Groups including Greenpeace Canada, the Council of Canadians and the David Suzuki Foundation said in a letter to the federal pipeline regulator that it should suspend the review process while waiting for new information from the company.

"Today's announcement is not the result of a sudden decision by TransCanada". It was supported by the governments of New Brunswick, Saskatchewan and Alberta, but opposed by Quebec.

TransCanada has announced it is cancelling plans for the Energy East pipeline. The construction of the Energy East pipeline was a once-in-a-lifetime opportunity. The project was cancelled Thurs.

Alberta Premier Rachel Notley also decried Energy East's demise, calling it "an unfortunate outcome for Canadians" and saying that it would have reduced the nation's imports of foreign oil.

"After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and Eastern Mainline applications", said president and CEO Russ Girling in a statement released Thursday morning. 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. That pipeline, however, is now locked up in lawsuits, and the B.C. government is intervening in challenges to its approval. In a statement, he sought to console job-seeking constituents who were counting on the pipeline's approval.

"Our government would have used the same process to evaluate the Energy East Pipeline project that saw the Trans Mountain expansion and Line 3 projects approved".

Environmental Defence, one of the main groups campaigning against the project, said new pipelines could not be justified at a time of declining investment in the tar sands, pipeline overcapacity, and a transition to renewable energy. "The pipeline failed to respect Indigenous rights and title and would have put the drinking water of millions of Canadians at risk of an oil spill".

The Saskatchewan Urban Municipalities Association and Regina Mayor Michael Fougere also spoke in favour of Energy East.

As 350.org founder Bill McKibben quipped then via tweet, "Transcanada may abandon its #energyeast pipeline because it doesn't want to confront the climate implications".

"The fight goes on", he told National Observer.

September 9, 2016: The National Energy Board sidelines all three Energy East reviewers following complaints that two of them met privately with a TransCanada consultant the year before and discussed the proposed oil pipeline. "We have to remain vigilant, look at what happens around us and react whenever called on".

Energy Minister Jim Carr defended the government by citing the green lights for Trans Mountain and Line 3, and insisting that the TransCanada decision was a "business decision" influenced by the state of commodity prices. Energy East is yet another lesson about how Canada must make decisions on its energy future going forward.

Oil prices have roughly halved since 2014.

"The fossil fuel era is ending".