CAPP: Trans Moun­tain ap­proval marks Canada’s op­por­tu­nity glob­ally

The McLeod River Post - - The Patch -

Build­ing a new pipe­line is crit­i­cal to di­ver­sify mar­kets for Cana­dian oil, cre­ate stronger energy fu­ture:

The Gov­ern­ment of Canada’s ap­proval to build the Trans Moun­tain Ex­pan­sion Project (TMEP) will con­nect the coun­try’s abun­dant oil re­sources to new cus­tomers around the world, cre­at­ing and sup­port­ing jobs for Cana­di­ans from coast to coast.

“Through West-Coast ac­cess to the Pa­cific Rim, Canada can grow its in­ter­na­tional trade, cre­ate more jobs and pros­per­ity at home and grow its in­ter­na­tional rep­u­ta­tion as a place to in­vest,” said Tim McMil­lan - pres­i­dent and CEO, CAPP.

Canada is a world-class pro­ducer of oil and with new in­vest­ments in energy in­fra­struc­ture – such as pipe­lines – Canada has the po­ten­tial to be­come a world-class sup­plier in a glob­ally com­pet­i­tive mar­ket. To­day less than one per cent of Canada’s oil is ex­ported to mar­kets out­side North Amer­ica, yet world de­mand for oil con­tin­ues to grow. Cana­di­ans have an im­por­tant role to en­sure their oil is de­vel­oped at stan­dards that are among the high­est in pro­duc­ing na­tions – so that Cana­dian oil is the world’s first choice.

“The gov­ern­ment has made the right de­ci­sion for Cana­dian pros­per­ity; we will take re­spon­si­ble steps for­ward to make sure the project con­tin­ues suc­cess­fully, said McMil­lan.”

Fore­casted growth in Cana­dian pro­duc­tion shows new major oil pipe­lines are ur­gently needed to de­liver safe, se­cure and re­li­able energy to do­mes­tic and world mar­kets. Canada’s oil pipe­line net­work has the ca­pac­ity to move 4.0 mil­lion bar­rels per day; last year the sys­tem moved 3.981 mil­lion bar­rels per day. CAPP es­ti­mates the sup­ply of Cana­dian oil sands will in­crease by more than 850,000 by 2021, so to­tal sup­ply will far ex­ceed ex­ist­ing pipe­line ca­pac­ity. Global de­mand for energy is fore­casted to in­crease by 31 per cent by 2040 and de­mand for oil is fore­casted to grow by 12 per cent. The TMEP ap­proval is one step closer to con­nect­ing Cana­dian sup­ply to new and grow­ing mar­kets abroad.

Cana­dian oil sands pro­duc­ers have been open to dif­fer­ent per­spec­tives on oil sands devel­op­ment and made sig­nif­i­cant in­vest­ments in in­no­va­tion and tech­nol­ogy to re­duce green­house gas emis­sions and limit their ef­fect on water, land and air. Build­ing new pipe­lines and lead­ing glob­ally on en­vi­ron­men­tal and safety per­for­mance is cru­cial to strength­en­ing Canada’s energy fu­ture.

“There is a bal­ance be­tween re­spon­si­bly pro­duced oil and meet­ing our cli­mate tar­gets, CAPP be­lieves the two are not mu­tu­ally ex­clu­sive and can be achieved as one,” said McMil­lan.

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