Energy East
Pipeline- A Failure
Extending from Western Canada, spanning across North
Western United States, finally to Eastern Canada, the proposed Energy East
pipeline was an oil pipeline. It was expected to convert about 3,000 kilometres
of natural gas pipeline, carrying natural gas from Alberta to the
Ontario-Quebec border, transforming to diluted bitumen transportation.
“The pipeline (was) predicted to add more than US$35
billion to‑Canada’s gross domestic product (GDP) over 40 years and reduce
dependence on foreign oil. There had been opposition from environmental groups
concerned about pollution and the focus on fossil fuels” (KPMC). They finally
got their victory as last year on October 5, TransCanada, (the same company
behind the Keystone XL pipeline fiasco in the United States), abandoned the
project.
The decision is another big blow to oil pipeline
companies. It is important to see how it would impact energy projects in the
future.
Announcement of the project (Image Credits: New York Times)