President Donald Trump’s decision to move forward with the Keystone XL pipeline project will be a positive step for Canada, Prime Minister Justin Trudeau announced.
The pipeline will deliver Canadian jobs and improve government coffers. It will also help Alberta recover from a decline in oil prices.
The project could result in bringing more than 800,000 barrels of oil from Alberta to refineries in Texas.
Negotiations for the pipeline, however, are outside of the federal government’s hands, and are the responsibility of TransCanada.
If all goes well over the course of the project, by 2030, the Canadian Association of Petroleum Producers has forecasted supply will grow to over 5 million barrels. As a result, oil and gas producers could be flush with space on the pipeline of all projects are constructed. This will, as a result, delay the TransCanada project Energy East.
Source : www.cbc.ca