Statement by the Honourable Joe Oliver, P.C., M.P., Minister of Natural Resources, on the Keystone XL Pipeline

abarrelfull wrote on 05 May 2012 07:28
Tags: canada n-america pipelines transcanada

Latest News

• Want a weekly review of refining news?

• This Week in Refining
• RSS Feed

The Honourable Joe Oliver, Minister of Natural Resources, today made the following statement in support of the Keystone XL pipeline:

“Our government is pleased to learn that TransCanada Pipelines has re-applied for a permit for the Keystone XL pipeline. We are encouraged that the company and the Nebraska Department of Environmental Quality have been working on identifying a new route for the pipeline through Nebraska.

“We respect the U.S. permit process and we remain hopeful the proposed pipeline expansion will be approved. This important project will play a key role in an integrated pipeline system that will contribute to energy security for both the U.S. and Canada.

“Oil sands development alone could inject as much as $3.3 trillion into the Canadian economy and support an average of 700,000 jobs per year over the next 25 years. If the Keystone XL pipeline is approved, it is expected to support the creation of over 140,000 Canadian jobs and $600 billion in economic activity over the same period. But to make this a reality, we need the infrastructure in place to get our oil to market.

“As I have said before, the Canada–U.S. energy relationship remains the single most important bilateral energy relationship in the world, and we will continue to work with the U.S. to further strengthen energy security for both our nations.

“However, it is clear that we must diversify our markets. We cannot rely on one customer for our oil. We must move our energy and natural resource products to high-growth markets such as the Asia-Pacific.

“Our plan for Responsible Resource Development will ensure timely, efficient and effective project reviews, and promote business confidence and capital investment, while strengthening our world-class environmental standards. We need to tap into the tremendous appetite for resources in the world’s dynamic emerging economies — resources we have in abundance.

“Our government is committed to accessing these markets to create hundreds of thousands of jobs and economic growth across Canada. In the next 10 years, more than 500 projects representing over $500 billion in new investments are proposed across Canada. This will help enable Canada to grow its economy and create jobs via trade with the U.S., while also expanding our markets to fast-growing Asia-Pacific countries.”

• Statement by the Honourable Joe Oliver, P.C., M.P., Minister of Natural Resources, on the Keystone XL Pipeline

---