{"id":4371,"date":"2018-04-09T07:46:47","date_gmt":"2018-04-09T11:46:47","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=94c31557551ff151e8080567ac560f48"},"modified":"2018-04-09T07:46:47","modified_gmt":"2018-04-09T11:46:47","slug":"oilsands-face-major-blow-as-trans-mountain-pipeline-thrown-into-doubt","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/09\/oilsands-face-major-blow-as-trans-mountain-pipeline-thrown-into-doubt\/","title":{"rendered":"Oilsands face major blow as Trans Mountain pipeline  thrown into doubt"},"content":{"rendered":"<div class=\"pmYTPlayerContainer video-container\">\n<div id=\"pn_video_155353\"><\/div>\n<\/div>\n<p><script type=\"text\/javascript\">( function() { pnLoadVideo( \"videos\", \"1_mc9qe5cn\", \"pn_video_155353\", \"\", \"\", [] ); } )();<\/script><br \/>\nCanada&#8217;s oilsands industry suffered a major blow as Kinder Morgan Inc. <a href=\"http:\/\/business.financialpost.com\/news\/politics\/kinder-morgan-to-suspend-all-non-essential-spending-on-trans-mountain-project\/wcm\/0a3b2f04-72ab-49e7-b2a8-f258f020ffb1\"  rel=\"noopener\">halted most work<\/a> on the Trans Mountain pipeline expansion, throwing into doubt a project that could have helped alleviate shipping bottlenecks plaguing the nation&#8217;s energy producers.<\/p>\n<p>The pipeline company is suspending all non-essential activities and ceasing to commit more resources to the project, which has faced opposition from the coastal province of British Columbia, whose land it traverses. Still, Houston-based Kinder said it will consult with stakeholders to try to reach agreements that will allow the project to proceed and set a May 31 deadline on the talks.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/news\/politics\/kinder-morgan-to-suspend-all-non-essential-spending-on-trans-mountain-project\/wcm\/0a3b2f04-72ab-49e7-b2a8-f258f020ffb1\">Kinder Morgan to suspend all non-essential spending on Trans Mountain project<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/opinion\/b-c-cant-stop-the-oil-but-it-sure-can-screw-with-canadas-interests\">B.C. can\u2019t stop the oil, but it sure can screw with Canada\u2019s interests<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/commodities\/energy\/theres-no-punch-to-trudeaus-pipeline-pledge-he-needs-to-put-the-gloves-on\">Trudeau&#039;s pipeline pledge lacks punch. He needs to put the gloves on<\/a><\/li>\n<\/ul>\n<p>The US$5.7 billion Trans Mountain expansion is one of three major pipeline projects that Canada&#8217;s oil industry is counting on to help carry more of its crude to refiners abroad. The Kinder project was particularly attractive because it would lessen the industry&#8217;s dependence on American buyers by moving an additional 590,000 barrels a day to a shipping terminal near Vancouver, where it could then be sent to markets in Asia.<\/p>\n<p>Leaders in Alberta and the federal government, which approved and supported the project, vowed to keep fighting and pave the way for Kinder to see it through to completion.<\/p>\n<div class=\"embed-twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Canada is a country of the rule of law, and the federal government will act in the national interest. Access to world markets for Canadian resources is a core national interest. The Trans Mountain expansion will be built. <a href=\"https:\/\/t.co\/97vvScpvOo\">https:\/\/t.co\/97vvScpvOo<\/a><\/p>\n<p>&mdash; Justin Trudeau (@JustinTrudeau) <a href=\"https:\/\/twitter.com\/JustinTrudeau\/status\/983137468047347712?ref_src=twsrc%5Etfw\">April 9, 2018<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<p>Alberta is &#8220;prepared to do whatever it takes&#8221; to get the project finished, including becoming an investor in Trans Mountain, Premier Rachel Notley said at a press conference in the province&#8217;s legislature in Edmonton on Sunday.<\/p>\n<div id=\"attachment_1571977\" style=\"width: 310px\" class=\"wp-caption alignright\"><img decoding=\"async\" data-attachment-id=\"1571977\" data-permalink=\"http:\/\/business.financialpost.com\/commodities\/energy\/oil-sands-face-major-blow-as-kinder-pipeline-thrown-into-doubt\/attachment\/notley-22\/\" data-orig-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg\" data-orig-size=\"300,268\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"notley\" data-image-description=\"\" data-medium-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg?w=300\" data-large-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg?w=300\" class=\"size-full wp-image-1571977\" src=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg?w=640\" alt=\"\" srcset=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg 300w, http:\/\/wpmedia.business.financialpost.com\/2018\/04\/notley.jpg?w=150 150w\" sizes=\"(max-width: 300px) 100vw, 300px\"  ><\/p>\n<p class=\"wp-caption-text\">Alberta Premier Rachel Notley<\/p>\n<\/div>\n<p>Notley also warned about taking measures that would hurt British Columbia, without specifying the details. The province&#8217;s government hinted in March that it may cut off oil shipments to British Columbia if the province continues efforts to thwart the expansion.<\/p>\n<p>The project was approved by the federal government in late 2016 but suffered a setback this year when the British Columbia government proposed limiting any increase in shipments of diluted bitumen amid concerns about spills.<\/p>\n<p>The B.C. government, led by Premier John Horgan, took power in July 2017 pledging to employ &#8220;every tool&#8221; available to thwart the expansion. Since then, it has hired a former Supreme Court judge to advise in its legal fight against the project and has also proposed restricting future shipments of oil-sands crude.<\/p>\n<p>The federal government&#8217;s approval of the project &#8220;failed to consider B.C.&#8217;s interests and the risk to our province,&#8221; Horgan said in a response Sunday to Kinder Morgan&#8217;s announcement. &#8220;We joined the federal challenge, started by others, to make that point.&#8221;<\/p>\n<p>&#8220;We believe we need to grow the economy, while protecting the environment,&#8221; he said. &#8220;But we will always stand up for British Columbians, our environment and the thousands of jobs that depend on our coast.&#8221;<\/p>\n<div id=\"attachment_1571975\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" data-attachment-id=\"1571975\" data-permalink=\"http:\/\/business.financialpost.com\/commodities\/energy\/oil-sands-face-major-blow-as-kinder-pipeline-thrown-into-doubt\/attachment\/pipeline-37\/\" data-orig-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pipeline\" data-image-description=\"\" data-medium-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=300\" data-large-file=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=640\" class=\"size-large wp-image-1571975\" src=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=640&#038;h=480\" alt=\"\" width=\"640\" height=\"480\" srcset=\"http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=640&amp;h=480 640w, http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=150&amp;h=113 150w, http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=300&amp;h=225 300w, http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg?w=768&amp;h=576 768w, http:\/\/wpmedia.business.financialpost.com\/2018\/04\/pipeline.jpg 1000w\" sizes=\"(max-width: 640px) 100vw, 640px\"><\/p>\n<p class=\"wp-caption-text\">Protesters opposed to the Kinder Morgan Trans Mountain pipeline extension defy a court order and block an entrance to the company&#8217;s property, in Burnaby, B.C., on Saturday.<\/p>\n<\/div>\n<p>Canada&#8217;s oil industry has suffered from a lack of pipeline capacity, which has weighed on the relative prices producers can garner for their crude. An outage on TransCanada Corp.&#8217;s Keystone system last year sent Western Canada Select crude&#8217;s discount to West Texas Intermediate to the widest in four years.<\/p>\n<p>Trans Mountain, along with TransCanada&#8217;s Keystone XL project and Enbridge Inc.&#8217;s replacement expansion of its Line 3 pipeline, was seen as key to helping alleviate those restrictions.<\/p>\n<p>&#8220;The project is critical to Canada and the future of its oil and gas industry,&#8221; Alex Pourbaix, chief executive officer of oilsands producer Cenovus Energy Inc., said in a statement. &#8220;If the rule of law is not upheld and this project is allowed to fail, it will have a chilling effect on investment not just in British Columbia, but across the entire country.&#8221;<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/\"  rel=\"noopener\">Bloomberg.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alberta is prepared to buy a stake in the pipeline after Kinder Morgan halts work because of B.C. opposition<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4371"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=4371"}],"version-history":[{"count":2,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4371\/revisions"}],"predecessor-version":[{"id":4396,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/4371\/revisions\/4396"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=4371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=4371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=4371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}