CALGARY — Nearly six months after its opening, the Trans Mountain pipeline expansion is boosting Canada's energy sector as promised — but questions still...
CALGARY — Nearly six months after its opening, the Trans Mountain pipeline expansion is boosting Canada 's energy sector as promised — but questions still linger about who will pay for the project's massive cost overruns.
Its construction was a lengthy, costly process. The Trans Mountain pipeline expansion was first proposed in 2012 by Kinder Morgan Canada, which encountered so much environmental and Indigenous opposition that it ultimately threatened to scuttle the project. Year-over-year production growth of an additional 100,000 to 300,000 barrels per day will continue into 2025, said energy analyst Rory Johnston — making Canada one of the largest sources of crude oil output growth in the world."Growth ... of Canadian production is expected to continue as one of the major drivers of non-OPEC+ crude output into the next year," Johnston wrote in a recent edition of his Commodity Context newsletter.
TD has suggested increased oil output this year will add between 0.2 and 0.4 percentage points to Canada's total GDP. It predicts Alberta’s real GDP will grow by 1.9 per cent in 2024, trailing only Newfoundland and PEI and coming in significantly higher than the national forecast for GDP growth of 1.1 per cent.
But oil companies are pushing back, arguing the proposed toll increases are twice the amount of a 2017 estimate and place an unfair burden on pipeline customers.Simon Fraser University professor Thomas Gunton, the author of a report on the tolling issue, said the industry norm is that oil companies are the ones who cover the operating and capital costs of the pipelines they ship on.
"There is no justification for providing a taxpayer subsidy to a private pipeline, even if it results in improvements to the Canadian economy,"Dublin, Oct. 21, 2024 -- The "Portugal Wind Farms Database" report has been added to ResearchAndMarkets.com's offering.This database details each site's operational status, geographical location, and technical specifications, thus enhancing industry transparency and accessibility. It Includes 470 Entries.
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