Trans Mountain delays costing the economy billions of dollars, report claims
Posted May 8, 2018 6:42 am.
Last Updated May 8, 2018 6:43 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – Anti-pipeline protesters claim they’re trying to protect the environment, but new research suggests they’re hurting the economy in the process, to the tune of billions of dollars per year. But you should consider where the information is coming from.
It originates with the right-leaning Fraser Institute, which is known for its pro-business research. Still, the group’s Elmira Aliakari says the numbers show the economy in trouble if protesters continue to get in the way of the project moving ahead.
“This is a really important issue because less pipeline capacity can mean less investment, as investors look elsewhere to put their dollars — which means less job creation in Canada and less overall prosperity for us.”
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Aliakari argues the ongoing shortage of pipeline capacity will cost the country’s energy sector almost $16 billion this year. She feels there are really no options that will help ease that financial pain.
“Shipping oil by rail is more expensive and Canadian oil producers should absorb that extra cost — that means that this is going to result in lower Canadian prices again.”
Aliakari says “those lower Canadian prices” won’t result in any deals the next time you gas up. Instead, she believes our petroleum companies and the economy in general will suffer.
