Proponents decide to cancel projects for market and internal reasons: Energy East

Elizabeth May

Madam Speaker, my hon. colleague from Lakeland referenced the decision to abort the energy east pipeline and blamed the government for that.

Energy east was being built by the same company, TransCanada, that is also building Keystone. It made a business decision that two pipelines, both shipping bitumen diluted with diluent for export, could not be supported by the market. It picked one, and it picked Keystone. Would my colleague not agree?

Shannon Stubbs – Member for Lakeland

Energy is the most regulated industry in Canada by all three levels of government. The fiscal regulatory decisions set by governments are the business decisions made by energy companies in this country. TransCanada had committed to proceed with the energy east pipeline until one month before, after extended delays, rule changes, disbanding the panels, re-appointments, and a last-minute condition of applying downstream emissions to that project. That is why TransCanada abandoned the energy east pipeline, which was the only opportunity into the east coast for shipping to the European market and for securing Canada’s domestic supply. That is exactly because of the Liberals’ decisions.