The Calgary Herald reports the debate over a controversial BC pipeline and port project to ship Alberta crude oil to Asian markets escalated recently with Canada’s politicians and business leaders advancing new support for the initiative.
Both federal Natural Resources Minister Joe Oliver and the Canadian Council of Chief Executives gave strong backing to the Northern Gateway Project with Oliver calling the pipeline in the national interest.
Slowing demand in the US is also adding to pressure for a go-ahead on the mega pipeline project that will stretch for more than 1,100km to a new port facility at Kitimat, northern BC and will cost $5.5 billion.
Accessing Asian markets (Japan, South Korea, China, Taiwan and Singapore) would ensure world prices for Western Canada’s oil. The Calgary Herald reports some 225 tankers annually would transport the Alberta crude to markets across the Pacific.
MINING.com reported at the end of June how US President Obama has been forced to make a decision on another pipeline vital to Alberta’s oil sands industry.
My Arab friend and busness pardner will talk about biding this pipeline construction when we meet in a few days over there. If you can grasp this, he will, if we are the low bid and get awarded the project provide the bonding himself in cash. That is 20% of the total bid ! 20 % of 5.5 Billion $$! Wow! I wish that he would adopt me? Ha-Ha! You too? We could go as a mached set of his American friends. I guess that is partly why the price of gas a gallon is $3.69. At least he puts some back into our economy with pipeline construction jobs at @ $50 an hour plus benifits. All are good ‘Union’ jobs. Have a ‘Great & safe’ day girl…….Dav.
This is a good business venture, as Canada rely’s to heavilie on the US market for trade, we need to diversifie our markets, (as the old saying goes, when the Americans sneaze, we catch there cold.) The Americans also are confused at this juncture in the history, as what they want in energy, there reliance on foriegn oil, or building the Keystone Pipeline, to me this is a no brainer, build the pipeline.
It,s about time we started utilizing our vast resources to help our major trading
Partner and help ourselves in the process. This is exactly what we need to stimulate
and push our economies forward at such a crucial time!!!