While Kinder Morgan works toward starting construction on its $7.4-billion Trans Mountain pipeline expansion, Simon Fraser University academic Tom Gunton argues Canada’s oil industry might not need the new pipeline once it’s complete.
In a new report released Tuesday, Gunton argued that with all the projects under development, including the Trans Mountain expansion, Keystone XL and Energy East pipelines, combined with recent forecasts showing dramatically less growth in Canadian oil output, the country will wind up with massive overcapacity to move oil.
Trans Mountain, however, said the project still has “strong commercial support,” and economists argue that Canadian oil-producers need the substantial outlet to offshore markets that the Trans Mountain pipeline would provide.
Derrick Penner – Vancouver Sun – April 5, 2017.
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