Just one pipeline proposal has been submitted in Canada in the last three years, while the U.S. keeps moving ahead.
In the last three years, the United States has approved and started building three pipelines.
Meanwhile, Canada got nothing.
As noted in the Financial Post, “While all three active oil export pipeline proposals in Canada have faced multi-year delays, RS Energy Group analysis shows that in just three years, three new oil pipelines from the Permian Basin in Texas have been approved and are under construction. Those pipelines — the Epic Crude Oil Pipeline, the PSX Gray Oak pipeline and PAA Cactus 2 pipeline — will be online in 2020 and carry an additional 2.4 million bpd to the Gulf Coast.”
The approval process for pipelines has increased in both Canada and the U.S., but by far different amounts. Since 2009, the U.S. approval process has increased by 15% to 336 days. But in Canada, it’s gone up a whopping 91%, to 681 days.
As a result of this increased regulatory burden, which is being made vastly worse by the Trudeau government, only one pipeline project has been submitted in the past three years:
“The NEB proposal is an application from TransCanada Corp. to expand and de-bottleneck its Nova gas pipeline system, which is the largest natural gas pipeline network in Canada but has required maintenance to alleviate pinch points along the system.”
So, while the U.S. is already underway with construction of three pipelines, Canada has gotten nothing.
And the Financial Post brought attention to what Ernst & Young is saying about the increasing burden on the Canadian energy industry:
“Over the past several years there has been an increase in the volume, complexity and duplication of regulations imposed on the pipeline industry in Canada,” Ernst & Young’s Canadian oil and gas leader Lance Mortlock wrote in the report. “This regulatory layering, along with other factors, is decreasing Canada’s competitiveness globally,” he said.”
And as bad as things are now, it will get worse if the Liberals stay in power.
With Bill C-69, Justin Trudeau is going to deal a crippling blow to the Canadian energy industry, making it virtually impossible to get any pipelines approved. As a result, billions of dollars in investment and possibly hundreds of thousands of jobs will be shifted to the U.S., in what will be an economic disaster for Canada
The only way to stop that from happening is to ensure that Trudeau is defeated.